Three little known truths about Mobile Home Parks

[Logan M.]

Three little known truths about Mobile Home Parks:

1. The cash flow is great, but rent collection is always a challenge. I have at least one tenant per park that I am always fighting with about paying rent.

2. You can make more money by holding onto homes in parks but it creates way more work and I don't believe it is worth it in the long run.

3. In Some of my communities I make more money on seller financing the homes I own than the lot rents.

I will add more of these truths but I find most investors without parks don't know some of this information.

[Roger D Jones]

Quote from @Sherry McQuage:

I was talking with the owner of a mobile home park within 45 minutes of my home; he inherited it from his father.  He says he wished he had a storage facility instead, because it would be less to manage.  I think I will pass on buying the park.

 Sherry, Don't walk away too quickly.  That seller attitude is exactly what you are looking for in addition to being family owned/inherited.  When I hear those comments I get increasingly engaged.  Just because someone is says they are frustrated having to manage something so much I can guarantee you it is because they are managing it poorly.  My number one park is 70% POH and I spend maybe 30 minutes per week engaged with it and make a great return.  Message me if you want some help evaluating it.