Running a successful 55+ MHP
Hi everyone first post. I've been soaking up knowledge on BP for a while now and close to make my first offer on a potential MHP deal. Want to say thanks to the pro members and BP team for educating so many people and changing lives! I'm just concerned because it's a 55+ community and a small park renting at 70% occupancy. I think it's priced fairly with some value ad opportunities for a long term owner but I'm more concerned with the positives and negatives to ownership of 55+ Mobile Home Park in New York State.
I actually a big proponent of providing housing for the aging and it feels special being able to help in this way so I haven't really considered the financial advantages of converting back to all age park.
Anyone with knowledge or experience can you please give me your opinion, what the positives and negatives might be?
Thank you!