If you are looking to invest in real estate, a low competition property is the way to go.
Competition is one of the main reasons why real estate values go up. When a lot of investors are looking at a property, bidding can begin to get out of hand. Bids come in driving prices up and if you don’t have a lot of capital, you can end up missing out. What’s more, you may end up overpaying which means you won’t make a profit when it’s time to sell.
Investing in low competition property means that you don’t have to worry about being outbid for real estate you are interested in. It also means you will pay a reasonable price and get a decent return on your investment.
When thinking of low competition properties, a mobile home park is one well worth considering. Read on to find out more about why they make great investments.
Why are Mobile Home Parks Low Competition?
Wary investors may wonder why mobile home parks are low competition. Low competition real estate usually earns its status for a reason. Maybe these properties are bad investments…maybe they are hard to care for…
Well, let us put your mind to rest right there.
There are two major factors that may have contributed to mobile home park properties getting minimal investor interest over the years. These are as follows.
- They are Unconventional: When investors think of investment properties, what comes to mind? Commercial properties, hotels, apartment buildings and single-family residences are the first an investor will think of. Part of the reason why mobile home park investing is low competition is that it just isn’t as obvious as other investments.
- They Don’t Want the Responsibility: Owning a mobile home park comes with the responsibility of being a landlord. This immediately eliminates certain investors. The ones who are willing to have landlord duties may want to go for a building where they can charge higher rental properties, like a home they rent or an apartment building.
Why Mobile Home Parks are Great Investments
Many have preconceived notions about mobile home parks that make them reluctant to invest, but a savvy investor will realize that mobile home parks can be the way to go.
The truth is, mobile home parks provide low cost housing that is always in demand. It is for this reason that investors don’t have to worry too much about keeping their properties filled.
Mobile home parks are also low maintenance. For the most part, investors will rent out the land, not the units themselves. When tenants move, they take their mobile home with them. This means the landlord is not responsible for any repairs inside the unit.
And if investors really don’t want to deal with the responsibility of being a landlord, they can always hire someone to do the job for them.
Low competition makes mobile home parks a great investment, but it’s a good idea to jump on the bandwagon soon. Investors are catching on and these parks may become the hottest commodity around in the coming years. Get in on the ground floor before it’s too late!
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.