DUE DILIGENCE
don't make a purchase you'll regret
Identify & understand risks, avoid common mistakes and increase confidence prior to your residential community acquisition.
The Brine Process
Leaves No Stone Unturned
Each residential community is different than the next. From the local ordinances and zoning laws that govern a manufactured housing park to how well it has been maintained and how repairs were documented or permitted. Below is a quick glimpse at some of the top items you’ll find in our Due Diligence report. With our proven process, buyers will avoid the top mistakes made during an acquisition.
Licensing & Zoning
Proper documentation and administration of records is not only necessary, it's the best way to keep a mobile home park legally operating. Are occupancy licenses up to date and have they been submitted to proper authorities (sometimes this can even be the department of health!) Were repairs permitted and documented?
Sewer & Drainage
Evaluation of water and sewer lines during due diligence can save buyers frustration, and money, in the future. If the park is on a private line additional assessments should be made to verify the condition of the well and sewer plant. How much will it take to run the systems properly, regardless of necessary repairs?
Lot Sizes
Most parks were built when home sizes were smaller. What happens when homeowners want to replace their unit with a larger manufactured home? Or, in certain cases, cities require homes to be a minimum size. What is that size and are all homes in the park within the regulation? Are all homes properly located on their individual lot?
Roads
Often times roads are one of the largest ticket items for residential communities. How wide are the roads? Do they have speed bumps? Are residents allowed to park on them overnight or have guests park on the road? Additionally, if a communities' roads have not been properly maintained it is a huge inconvenience to residents.
Flood Plains
With so many communities located near lakes, rivers, or even the ocean, accurately assessing whether the community is in a flood plain is extremely important. Moreover, how effective is the drainage system after a heavy rain? Do any repairs need to be made for better drainage?
Maximize THE value of your Residential Community
Keep your investment cash flow positive with proper facility maintenance.
(813) 699-4200
Email: info@brinedevelopment.com
