South East MHP long term viability
Hello everyone,
I am looking for some opinions, particularly from MHP owners with parks in the south east.
It seems MHP's has some serious competition from low SFR rental prices and a generally aging of HM's in parks making the entire proposition less enticing given the options available for those seeking housing. I look at many of the parks for sale and many times they are heavily loaded with POH's and/or they have many vacant lots.
I am wondering is this situation because of the dynamics of the rental market in the SE, due to owner mismanagement, a combination of the two?? Functional obsolescence of MHP's? We know new MH sales have been suffering for some time.
I am trying to decide if MHP's in the SE is still a stable investment over the next 20 years or is SFR a better, though lower cash on cash invesent path. I have owned properties at distances before, but like to keep properties within a weekend trip distance. I will be relocated to the Atlanta area for my mainstay occupation, but I am trying to get a feel for this aspect of the MHP investing arena.
Any feedback and thoughts are welcome and appreciated.