I listed my mobile home park (at a reasonable price), and have had almost 20 calls on it, and sold it to the first caller after only having it listed for a few days. This is such a GREAT site to put sellers in touch with buyers.
This is the best place to advertise mobile home parks for sale!!!”
-AnnetteSee All Testimonials
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Mobile Home Parks are one of those few investment properties that you can buy and immediately start having cash flow. With the difficulty in obtaining financing on any type of commercial real estate right now, it is a buyer's market at last. If you are creditworthy and have the capital to invest there are some great mobile home park investments which have immediate 10% plus cap rates and 15% plus cash on cash returns.
If you are tired of negative cash flow on single family homes and low cap rates on apartments with the constant repairs that go along with them, then you might want to consider the best kept secret in commercial real estate... Mobile Home Parks!
In a poor economy, there tends to be a greater demand for affordable housing and this asset class fits that bill.
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For 4 or 5 star parks there are Government Agencies – Fannie Mae or Freddie Mac can provide some of the most desirable loan terms. Notoriously picky: parks must have 50%+ double-wides, curbed streets, not more that 5% park owned homes, etc. and locations near major metro areas. Most parks don’t manage to qualify. Loans are nonrecourse and have yield maintenance prepay penalt...
Our Weekly Mobile Home Park Investing Tips. Along with comments from investors. Enjoy!
Mobile Home Park Tip #21
Keeping in Contact with your Manager:
I have to admit that I have made some mistakes in the past with communicating with my onsite management. For the most part, I let the managers run the park and assumed that if I did not hear from them, everything must be going well.
It comes as no secret that mobile home parks are finally receiving the type of respect they deserved years ago. Because of the ridiculous stereotype that the media created for “trailer park” residents, many professional investors avoided the asset class altogether. Recently, however, even the largest private equity group in the U.S. – the Carlyle Group – has started to invest in mobile ho...