A mobile home park investment may not be the most conventional real estate investment. Mobile home park investments are becoming a popular option for those looking to start out in the world of investing.
Why is a mobile home park investment becoming a popular option?
- A mobile home park provides low cost housing so there is rarely a shortage of tenants
- Renters can own their own units
- There is not much maintenance for park owners and
- Low competition means you don’t need a lot of capital to start
Are you looking into investing in a mobile home park? There are many ways to start. Read on to find out more about your options.
Build Your Own Mobile Home Park
Building your own mobile home park will be a major undertaking. Here are a few of the requirements to build your park:
- Raising the capital to build,
- Acquire the land (3 to 5 acres minimum)
- Get the proper licensing and permits
- Install the necessary pipes and wiring
There is a lot less competition in building. If you find a lot you want, it’s unlikely you will have to outbid other investors to get it. You will also be able to customize the lot to make it ideal for tenants.
Flip an Existing Park
There are many mobile home parks that have fallen into disrepair. With a little bit of TLC, investors can update these parks to make them more attractive to tenants. While this will take a bit of work, you will reap the benefits once repairs are made. Happy tenants and justified rent increases are but a couple of the benefits!
Invest in a Mobile Home Park
If you think a mobile home park is a good investment, you can just become an investor.
To invest, you need to find a park that you think will perform well. Then you can purchase the park outright or purchase shares in the park. If you purchase the park outright, you can open up shares to other investors to start a mobile home investor fund.
Another option is to buy lots in the park and rent those out to tenants.
Whatever route you choose, you will end up making money without spending a lot of time dealing with maintenance and collection issues.
A mobile home park is becoming a popular real estate investment choice in today’s market. Building your own park, flipping a park or becoming a silent investor are all great ways to get in on the ground floor. Which will work best for your situation?
If you’d like to talk more about selling your mobile home park or are interested in buying a mobile home park, look no further and get in touch with us today.
You can Call us – Phone: 844-238-0218, or Contact Us via the website