Why invest in mobile home Parks?
Mobile home parks offer some beneficial advantages over other forms of real estate.
Supply and Demand
The supply of available parks is limited and the majority of cities across the U.S. intend on keeping it that way. In most cities, it is nearly impossible to construct a new park.
Low tenant turnover
If a tenant chooses to terminate their lease, they face an immediate burden of about $3000 - the cost of taking down, moving and reinstalling a home, thereby making it difficult to relocate to another park. Annual tenant turnover in mobile home parks averages 10% compared to 60% in apartment buildings.
Absense of structures to Maintain
Unlike the owner of an apartment building or strip center, you are renting land. As a result you do not have the constant capital expenditures such as roofing costs, exterior/interior painting, make-readies or leaky toilets. Unlike apartments, the tenant is responsible for all repairs to their home.
The solid continual demand for affordable housing
Today, there are 10,000 baby boomers per day retiring into social security checks averaging $1200 a month, with virtually no savings. As a result, this very large demographic will be downsizing into housing they can afford and mobile home parks are one of the top options. In addition, nearly 60 million of all U.S. households earn $19,178 or less. Mobile home parks are one of the few places in America where you can live on $1200 a month.
The overall objective of each property acquired is to provide an excellent return on investment for the principals and investors, coupled with a pledge to provide every resident a safe and affordable place to live.
While there are no guarantees to any investment safety, Discover Properties LLC has a proven track record for profitability. If you have a mobile home park for sale, or would consider investing with us on our next acquisition, please contact us.
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