Does anyone here use a mobile home in a mobile home park for their Air Bnb? If so, would you please share how that's going?
@Erin T Vazquez I haven't heard of anyone doing this. Though, I'm interested to see if there's anyone here doing it.
One issue will be the park. Many parks I work with require residents and anyone living there to be approved by the park. Usually, it's a safety issue like any community. They want to know who is living there in order to protect the residents already living there.
Hope that offers some insight!
Thank you, Rachel! I'm digging in a little bit and I'll keep you posted.
It may be difficult to achieve this within a park, unless you have a really strong relationship with the owner of the park. This is because park owners do not like to relinquish the control of their spaces to a 3rd party owner.
However, an effective way to exercise this strategy is to buy the park yourself and convert some of the POHs to vacation rentals. Acquiring the right park will be critical as the demand for vacation rentals will be contingent upon amenities at the park.
For example, we have a resort style RV park with mostly permanent park models that has a nice clubhouse, pool, spa, sport courts, fire pits, and a cool community vibe with the existing residents. When we acquired the park, there were 5 POH units that came with the deal. Instead of selling those, we chose to use them as vacation rentals, which allows prospective residents an opportunity to "test out" the park for a season before they buy a home. It also gives us as much revenue in 3 months as we would have for an entire year had we sold those units instead. Since we own the park, it is much easier to execute on that strategy.
@Jack Martin thank you for that. I'm working on putting together my first deal and there are a few mobile homes for sale in my area. That was appealing because the return is projected to be pretty phenomenal and would be a fun way to get my toes wet.
There is a piece of land zoned in a really cool town close to where I am for building a mobile home park and I think it would be a blast to develop it into something like what you were talking about for an Air BnB experience, but I'm trying to walk before I run. The idea of owning or developing a mobile home park is highly appealing though, so thank you for keeping the flame alive.
I've seen people who have their own house on a large property add Air BNB mobile homes. I've seen the beach community mobile homes (where all the owners are pretty well off) on AirBNB. Never seen a regular MH in a regular park.