Mobile home buy & hold investment in Burkburnett.
Bought from slum lords, neither I or my business partner had any clue of what we were getting into. 45 spaces with 21% occupancy - wow on every single level is all I can say. We are actually under contract right now to close this deal and have a new buyer, much more experienced in the mobile home space take it from here. My words of advice for anyone entertaining the thought of getting into the MH space. Yes, absolutely do it - especially if impacting the affordable home space is on your radar. Be prepared to invest lots of capital and make sure your business model makes sense. There are huge companies out there crushing it with 500 spaces in ONE park, bringing in $300k/monthly via lot rents. Then there are others who are floundering, not really making the most of the situation. Unfortunately, that is the situation I found myself in through a partnership. Thanks for reading this far.
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