Mobile home park investing means owning the land and infrastructure of a manufactured-housing community while residents typically own their individual homes and rent the lot beneath them.
Log in to followThe county parcel viewer in the two rural counties I'm working lists 41 properties with a land use code for manufactured home community. I figured that was my whole universe. It w…
The park I'm working toward has 3 homes the current owner owns and rents out. I'd rather have those residents own their homes and just pay lot rent, which as far as I understand i…
The operating agreement said my membership interest was 25 percent. It did not say what I gave for it. That sentence is the whole loss. Deal shape: 33-lot park in a small market,…
Closing statement came back last month so I have the real numbers now. Bought a 31-lot park in a small industrial town, 28 occupied, all tenant-owned homes, lot rent $265 against…
Seller sent me the standard lease he uses. It has the lot number, the rent, a line about pets, and a signature block. That's it. Nothing about who maintains the water line running…
This one's closed out so I can tell it properly. Eighteen months ago I wanted into manufactured housing and couldn't afford a park. What I could afford was homes. I bought two 199…
Comparing two LP offerings, both acquiring small parks in the same three states, and the assumptions are far enough apart that one of them has to be wrong. Fund A: 5-year hold, $2…
I own small multifamily and every unit has taught me something, mostly by breaking. I've been reading this room for a while and the land-lease idea makes obvious sense to me. What…
Still not buying anything. Reading. But something clicked and I want to check whether I've actually got it or just think I have. The thing I kept getting stuck on was why anyone w…
48-lot park, 44 occupied, and the offering memo says agency eligible in the first paragraph. Then in the rent roll, 9 of the occupied lots are park-owned homes rented as houses at…
48-lot park, small city, asking $1.6M. I was building a service business around parks and figured owning one would teach me the operations from the inside. It taught me something,…
Underwriting a 38-lot park at a 6.75 cap, city water and sewer, all but three homes tenant owned, asphalt in fair shape. On paper this is the most stable income I've looked at, an…
48-lot park, city water on a single master meter, no submeters at the pads. The P&L the broker sent shows water/sewer expense of about $1,900 a month and a separate line called "w…
Third park, first one over 50 lots, and the first one where I ran the transition with my own crew instead of hiring it out. 96 lots, 91 occupied, all tenant-owned homes except fou…
Looking at a listing that says "48 lots, 41 TOH, 7 POH, city water and sewer, lot rent $310." I worked out TOH is probably tenant owned home but I'm guessing. POH I have no idea.…
Small park in a county of maybe 9,000 people, two hours from anything. 18 lots, 15 occupied, all homes owned by the residents. Lot rent is $215 and hasn't moved in six years per t…
My three parks run 42, 39 and 67 lots, all within about 90 minutes of each other. For two years I used an onsite resident manager at each, paid in a lot rent credit plus a small m…
I'm reading the LP agreement on a 78-lot park where in-place lot rent is $270 and the sponsor's own comp set shows $395 to $425 at four parks within twelve miles. The business pla…
64 lots, $310 lot rent, contract price $2.9M, and the seller's attorney says before we can close he has to send residents a statutory notice giving them a window to organize and m…
I've been reading fund paperwork for about a year without putting money anywhere, which was starting to feel silly. Last spring I went into a 66-lot park deal as a limited partner…