Military Family Investing

5 Takeaways from “How to Invest in a Mobile Home Park”

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by

kingmarine
in

“How to Invest in a Mobile Home Park” by David Rousher guides us on how to invest in mobile home parks. Duh. What’s not so obvious is why you would want to invest in a mobile home park.

Many of us want to retire and still have income, and owning a mobile home park may have significant advantages over owning apartment complexes or duplexes. There is one main difference between those commercial properties and mobile homes—who owns the structures.

In a mobile home park, the residents own the mobile home; you, the park owner, rent the land to them. They pay the “lot rent”, and they also pay for their own maintenance and utilities. Not a bad deal. 

There is a lot of work that goes into running a mobile home park, but that is why you hire a park manager. If you have enough passive income (and freedom) from other sources, you can manage the park yourself while living on the land. Let’s review my five takeaways.

1) Affordable housing is always in demand. Getting into the mobile home business, in the right locations, will always afford you tenants.

2) Owners should raise the lot rent every year, so the residents get used to paying more every year. Your taxes and insurance, along with inflation, will also rise, so raising rents is necessary. 

3) There are fewer maintenance issues because the residents own their homes. The owner only pays for the common areas and management complex. 

4) The resident turnover on mobile homes is roughly every 5 years. For apartment buildings, the turnover is 6 to 12 months. People also take care of their homes better when they own them.

5) You will want to buy an MHP in a city greater than 50,000 residents. That is the minimum size you can find enough “good” tenants to fill your park.

Mobile home parks can be a boon to those looking for a retirement business. Yes, you will have to do a lot of research, but I am confident one good mobile home park can sufficiently supplement your investment portfolio. 

There are also many ways to increase the income of your mobile home by adding value. For example, adding laundry mats, pools, and storage areas are good ways to diversify your income. 

If you think of adding to your retirement portfolio with a little diversification, look no further than mobile homes. Other ways include a bed and breakfast, self-storage, commercial buildings, RV parks, and more. 

The more of these ideas you have, the better you can plan for retirement. The book is a great resource to start your investigation into mobile home parks and other commercial investments. Good Luck!

This link is to a physical product. The link above is to the digital book. Sorry. I get no credit for digital product links.

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Disclosure: I am not a financial advisor or money manager, and any knowledge is given as guidance and not direct actionable investment advice. I am an Amazon Affiliate. Please research any investment vehicles that are being considered. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it.  I have no business relationship with any company whose stock is mentioned in this article. All Right Reserved Military Family Investing

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