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 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…
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…
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…
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…
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…
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.…
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…
Basic question that I should already know and don't. On a 34-lot park where all 34 homes are tenant owned, what am I insuring? There's no building. I've got roads, a well house, a…
60-lot park, in-place lot rent $265, the broker's "market rent" is $425, and the model walks it there over 24 months in two steps. Everything else in the deck is flat. I'm buildin…
Been calling around about who actually manages these things for owners, partly because I'm curious whether there's a service business hiding in here. A regional firm quoted me 6%…
44-lot park, 32 occupied, 12 vacant pads with what the seller says are live water, sewer and electric stubs. Lot rent is $340 and collections look decent on the 32. Dealer quoted…
Under contract-ish on a 42-lot park in a secondary market, asking $1.35M. Lot rent is $285, 38 occupied, 4 vacant lots with pads and hookups. Private well serving the whole park,…
I own a service business and I'm after income that doesn't become a second company to manage. Two 25-ish lot parks in my area came up, both around $700k, lot rent in the $270 rang…
I've been pricing out the back office side of a small park before I get any further. Lot rent collection on 30 lots doesn't sound like much, a bank deposit and a spreadsheet. But…