Adapt or Get Outbid: How We Underwrite Parks Today

The mobile home park and RV park space isn't what it was a few years ago. Rates are higher, cap rates have moved, and more buyers than ever are chasing the same parks. The deals are still out there, but you have to be sharper to make them work. In this episode, Miles Noland of Treeside Capital walks through how he underwrites deals today and why the old playbook doesn't hold up anymore. He covers how to look past a seller's numbers to real income and expenses, how to stress-test a deal against today's debt costs, and where the value actually comes from once you own the park. He also gets into the creative side of getting deals done: seller financing, structuring around the seller's real needs, and knowing when to walk away. Plus, how to compete when institutional money and a flood of new investors are chasing the same parks, and why relationships and speed often beat the highest offer. In this episode: How to underwrite a park, and which numbers sellers usually get wrong How rising rates changed deal structure, and how we adjusted Seller financing and creative terms that close the gap on price Competing against well-funded buyers without overpaying Red flags that kill a deal fast Where the opportunities are right now in the Midwest and Southeast Whether you're buying your first park or scaling a portfolio, this episode shows you how to find deals that still pencil in today's market. Visit treesidecapital.com