Let’s talk about mobile home park investing. This is not the first area most investors think about because of the stigma of mobile home parks. But, everyone person, no matter their financial situation, wants a roof over their head and we can help them with their needs and financially benefit from helping them.
Purchasing Mobile Home Parks:
The best way to get into a mobile home park is by purchasing it as a seller financing deal from a pre-existing owner of a park. This allows for an easy transition because the business license is already in place at the county or city level. We can take a park that is not being run well and boost it into a great income by taking the right steps.
It is a land play with incredible cash flow:
A mobile home park is just a business of renting the acreage of 10-20 acres of the park. You are in essence leasing the land to people which makes it a very attractive investment.
It requires a minimum of maintenance and management:
Once the occupancy of a mobile home park has stabilized, you can hire a caretaker or a part-time manager who will collect the rent the first five days of the month, and then for the remainder of the month be responsible for enforcing the park’s rules. Additional work is required when bringing in mobile homes into the park and selling on lease option or a note.
Provides an opportunity for creating additional profit centers:
There is also the possibility for many profit centers. For example, there is the option to bring in homes to provide tenants with a lease option (or sold on a note). So you are not only leasing the land, but you are selling the mobile home on terms as well. Another option is to provide lawn service a monthly fee, or even bringing in storage containers and offering self-storage services.
Many benefits:
The best investment by far comes from investing in a solid, well located mobile home park that has great infrastructure and high occupancy. Purchasing a mobile home park with these attributes can create an incredible income stream that will give you the freedom to be financially independent for life!
Thanks to Corey Donaldson for much of this content.
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