Mobile Home Parks
on market and off market mobile home park opportunities…
Mobile Home Parks have become a passion of mine. I sold one for a client, and I was hooked! I enjoy the product, the people involved with parks, and the operators. People who own parks, know parks, they are educated investors with a strong ability to acquire more. In a day and age where “triple net” deals are popular, or apartments are sexy, Mobile Home Parks remind me of the tortis and the hair. They aren’t sexy, they don’t appeal to a lot of investors, but they are one of the best Asset classes to get into.
LOW COST PER UNIT – Large Multifamily investing can become extremely expensive. Mobile Home Parks offer some of the lowest cost per unit of any Commercial Real Estate asset class.
LOWER COST FOR MAINTENANCE AND REPAIRS– When owning traditional Multifamily, you own the structures. When owning parks, you typically only own the land and infrastructure, not the home. Resident’s take care of their own homes, not the owner of the park.
MITIGATION OF RISK – In Apartment ownership, Tenants have the ability to move out upon completion of their Lease. Mobile Home Park residents own the home, they’ve chosen to live in the community you own. This equals less turnover, and longevity of rental income.
HIGH DEMAND– We’ve all heard about Baby boomers, and right now, Manufactured Home Communities are at their highest demand. Parks offer low purchase prices in desirable neighborhoods for affordable places to live, retirement destinations, or the perfect place for a family to move for the right school district.