Resources for Investing in Mobile Home Parks?

Question

Hey guys! My name is Ben Morand and I am a 20 year old college student interested in buy & hold investing. Right now, I am just trying to gain as much knowledge as I can and build connections, as I am so eager to get started in the real estate investing world.

So over the past few months, I have been exploring various opportunities in the real estate investing industry and I ended up stumbling upon the Mobile Home Park niche. This asset class interests me greatly due to the fact that the investor is able to rent out lots, rather than full on houses or units, the costs are not very hefty in comparison to other large multifamily properties, and owner financing is a popular option among sellers.

Since I have discovered MHP investing, I have read several blog posts and listened to podcasts on the matter, but what I am wondering is if anyone has any resources they recommend to learn more about how to invest in MHP’s? I didn’t see any books by BP publishing, but I have become an avid reader of real estate books and I would be interested to hear of any that people find helpful. Along with books, if anyone has any other resources, I’m open to all advice.

Also, I’d love to connect with other new and aspiring MHP investors to hear their stories and build relationships going forward. Thank you in advance to everyone that is willing to help! I really really appreciate it!

Frank Rolfe · Answer

Go to the MHU website and you'll have hundreds of articles to read for free, as well as a ton of audio (around 500+ hours). Like anything else, the reality is much different than the basic concept, and you need to make sure that you are 100% on board with the business model as you dig deeper. I was only interested in the niche initially because I was 1) impressed by the fact that the industry is essentially restricted in supply in perpetuity and 2) the concept of seller financing. After I bought that first park, I learned that the business model was the best one that I had ever seen in my life, and that's when I went full speed ahead in building a portfolio of parks.

25 years later I am still convinced that mobile home parks are the best niche in real estate, as they play into all of the U.S. megatrends. The Covid-19 pandemic has once again reinforced the power of being in affordable housing.

Ben Morand · Answer

@Frank Rolfe Thank you so much! I had no idea MHU even existed but it seems like a really awesome resource! I appreciate the insight!