Mobile Home Park Expertise in St. Louis

[Kenton Coffman]

Hey BP!  

I live in St. Louis and am recently full time in real estate with wholesale, wholetail, rehab, and retail.  In addition I'm looking to pick up a rental every year or two to add to the 4 I currently have.

My question is about mobile home parks and specifically parks in and around St. Louis.  I'm obviously intrigued with the even more passive income model once the park is strictly renting out pads and all homes are owner owned.  BUT it seems a bit daunting to get started.

The main concern I have is that the big appeal comes from the fact that there are fewer and fewer parks every year from those that are sold and converted to some other use.  The pro of that is that they're in limited supply and they should be scooped up before they're too hard to find.  The con would be that it's a dying method of residency. I'm worried about buying  a park and not achieving high occupancy due to a lack of interest in the market.

Any thoughts?  And if anyone has experience in or around St. Louis, that's a huge bonus.

Thanks!!!

[Bill F.]

@Kenton Coffman who says its a dying method of residence? 

Most of the academic research I've seen suggests that its becoming more and more of an option as a "starter home" that gets people out of apartment buildings.

I'd be curious if you have heard/read something else.