Welcome to Episode 62 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. This is the second episode to Erik Hanson’s interview. Be sure to the listen to the first part to get a full view of what kinds of things go into an appraisal report. On this episode, Erik discusses how you can increase your property value and get more bang for your buck.
Key Takeaways:
[1:15] Erik continues his discussion on what goes into an appraisal report.
[4:25] On the report, there are some things you just have to include in there that the government requires. They don’t mean much to the buyer personally, though. Erik and other appraises call this the ‘Fluff.’
[7:30] There are two terminologies you should be aware of that appraisers use when discussing a park status, but what happens if your park doesn’t fall into these two?
[10:00] What kinds of things can a park owner do to increase their property value?
[11:40] What kind of amenities can you add to increase rent?
[14:30] How does Erik value the amenities?
[17:10] What states are Erik and his team currently active in?
[17:55] How do the park valuations change based on the different locations?
[20:55] Erik shares a quick funny story on an appraisal he did.
[24:30] Erik offers tips on how to find the right appraiser.
Mentioned in This Episode:
Park Street Partners Business Resources
LinkedIn: Mobile Home Park Investors Group
Send deals to: deals@parkstreetpartners.net
Email Erik: erik@mhpappraisal.com
Call Erik: (608) 279-1164