Mobile Home Park Investors With Jefferson Lilly & Brad Johnson

Welcome to episode 8 of the Mobile Home Park Investors podcast, hosted by Jefferson Lilly and Brad Johnson, with the Park Street Partners. Today, Jefferson and Brad will discuss seller carry, also known as seller financing. This is when a seller of a mobile home park carries back the mortgage, which allows the owner of the mobile home park to not have to deal with a bank to get a mortgage and to close a deal more quickly. If you like this podcast, please subscribe to it on iTunes or Stitcher and rate us highly.   Key Takeaways: [1:29] It’s best to negotiate directly with the seller, even if buying property through a broker. [2:30] What are the benefits for a seller to carry back the mortgage? [7:53] Brad explains the depreciation recapture component of seller financing. [10:07] The downside for a seller to carry back the mortgage is de minimis. [12:37] The best part about seller financing. [13:19] A key benefit for a seller who offers seller carry. [13:42] What to do once you agree to seller financing. [16:1