For many savvy real estate investors, mobile home parks are viewed as superior investments relative to apartments, office buildings and retail shopping centers because of their financial performance and reduced management requirements.
The primary reason that land-lease communities perform so well is their ability to produce increasing rents faster than expenses go up. Manufactured home communities have been able to perform well because of barriers that discourage competitors from entering the market. Difficulties in zoning, as well as extensive time required to fill up new communities are powerful disincentives to competitive development. This not only prevents most markets from being overbuilt, but it in fact insulates them from competition.
The mobile home park business is more complicated than it appears. To buy mobile home parks successfully or to assist clients with these purchases, you have to know what makes a good deal, and how to negotiate aggressively and what steps to take to maximize your return. As there are few experts in this area, specializing in mobile home parks can provide a tremendous opportunity for real estate agents.
Learn to find, negotiate, perform due diligence, buy, sell, operate, and even turn around mobile home parks, including tips to making money in this extremely important and profitable commercial real estate niche.
Here’s a sample of what you will learn in this course:
- How to find the best “off market” mobile home park deals
- How to buy mobile home parks
- Parts of a mobile home park contract
- Making the park attractive
- Filling vacancies
- How to sell mobile home parks
- How to turn around a mobile home park
- Financial analysis of mobile home parks
- Mobile home coop vs. subdivision
- Mobile home park financing strategies
- Operations for mobile home park vs. RV park
- Understand what the effect park owned homes and rentals have on the valuation equation