Skip to content
Mobile Home Park Investing

User Stats

730
Posts
611
Votes
Logan M.
Pro Member
  • Investor
  • Provo, UT
611
Votes |
730
Posts

It may not be a popular bragging point but it is needed

Logan M.
Pro Member
  • Investor
  • Provo, UT
Posted Mar 28 2024, 12:41

Yesterday, I had the opportunity to drive through a potential community with my parents. One of the regular comments was about the condition of the park and how badly it needed to be cleaned up. 

This is the point, if you as an investor are not the one to do it, who will?

Will the next buyer make the community safer and a place that shows respect for those living there. I know that these communities are not all Class A but these communities look bad because of bad management just as much as unaccountable tenants. I often think about the kids living in the communities and how it will positively change their childhoods.

In one community we put in a new road and the kids started using their scooters the same day, before we did that they were riding on dirt roads with Razor Scooters, yikes.

User Stats

499
Posts
203
Votes
Leslie A.
  • Real Estate Investor
  • Houston, TX
203
Votes |
499
Posts
Leslie A.
  • Real Estate Investor
  • Houston, TX
Replied Apr 27 2024, 10:05

@Logan M.

That’s a wonderful point. Not to mention increasing the value of your property

User Stats

4,810
Posts
4,905
Votes
Scott Mac
  • Austin, TX
4,905
Votes |
4,810
Posts
Scott Mac
  • Austin, TX
Replied Apr 27 2024, 11:00

These are your assets, your communities.

They are the product that you are offering to potential customers and to existing customers.

They need to be the kind of product that you believe is desirable to your customer base.

It seems like you Are doing that.

Good Luck!

BiggerPockets logo
Find, Vet and Invest in Syndications
|
BiggerPockets
PassivePockets will help you find sponsors, evaluate deals, and learn how to invest with confidence.

User Stats

7,097
Posts
8,740
Votes
Bill B.#3 1031 Exchanges Contributor
  • Investor
  • Las Vegas, NV
8,740
Votes |
7,097
Posts
Bill B.#3 1031 Exchanges Contributor
  • Investor
  • Las Vegas, NV
Replied Apr 27 2024, 11:30

Another example of “the tragedy of the commons”. I guess that’s one of the few upsides to our community owned parks. The governments not involved. I haven’t seen a dirty or unsafe park even in a “bad neighborhood” in 20+ years. Heck I’m staring at a giant multi-level waterfall with an artificial lake full of ducks and geese as I write this. 

User Stats

93
Posts
58
Votes
Replied Apr 29 2024, 18:42

Flag poles, playgrounds, cabanas, paved streets, street lamps, RV parking, large entrance signs, swimming pools, etc- all good stuff. But it has to pencil out to the bottom line. Park improvements require a very keen understanding of 'will this expense drive my NOI? I have nice parks.. clean, organized and well maintained... and my wife almost threw me down the stairs when I wanted to spend 5k on a flag pole. She told me to run the business; not my ego. Gulp...

User Stats

2,079
Posts
1,153
Votes
Mike Reynolds
Pro Member
  • construction
  • Nacogdoches, TX
1,153
Votes |
2,079
Posts
Mike Reynolds
Pro Member
  • construction
  • Nacogdoches, TX
Replied Apr 30 2024, 05:45
Quote from @Logan M.:

Yesterday, I had the opportunity to drive through a potential community with my parents. One of the regular comments was about the condition of the park and how badly it needed to be cleaned up. 

This is the point, if you as an investor are not the one to do it, who will?

Will the next buyer make the community safer and a place that shows respect for those living there. I know that these communities are not all Class A but these communities look bad because of bad management just as much as unaccountable tenants. I often think about the kids living in the communities and how it will positively change their childhoods.

In one community we put in a new road and the kids started using their scooters the same day, before we did that they were riding on dirt roads with Razor Scooters, yikes.


 These are exactly the parks I target. We clean them up in less than a year. We like parks that have bigger yards so there is room to move around. Not much different than a neighborhood. And they treat it like one also when the neighbors aren’t 10 feet away. 

The first park I bought had a liquor store to the east and a strip club to the west. But it’s 6 minutes to downtown Little Rock. Everyone thought I was crazy when we bought it. Now, they want to buy it from me. It is not the same park at all. Families thrive there and save money on housing while becoming owners with equity.