Have you been thinking of investing in real estate? If so, why not a mobile home park?
Millions of Americans live in mobile homes, and the trend shows no sign of slowing down. Plus, it’s one of the safest investment markets to get involved with, thanks to its low-risk, low-competition environment.
Keep reading to learn about four big advantages of this investment type, and decide if it’s right for you!
- Growing Demand
Mobile home parks are more popular today than ever before. And, they fill an important need in the housing market.
Mobile homes are inexpensive when compared to a traditional house or apartment, and they can provide a fairly large living space suitable for more than just two people. This gives people an opportunity to own their own home, in a space large enough for the whole family.
Especially in today’s changing economy, there is a constant need for affordable housing. And, that’s unlikely to change. Mobile home parks fill that niche!
- Short Supply
No matter where you live, you’re unlikely to see many new mobile home parks being built.
Despite their growing demand, most cities and towns don’t want new ones being built and are hesitant to introduce new options for low-income housing or affordable home ownership. And, because of the large space required to start a mobile home park, buying vacant land to develop isn’t always an option.
These factors combine to guarantee that the market won’t become oversaturated – at least not any time soon.
- Cash Flow
One of the best parts of investing in mobile home park real estate is the potential positive cash flow each month.
These properties carry low upkeep expenses when compared to commercial or multifamily properties like apartment complexes. So, a large percentage of your monthly income goes right to the bottom line. And, because many mobile home residents own their homes, you’ll only be responsible for upkeep on the property around them.
All in all, it’s a pretty sweet deal!
- Easy Investment
Mobile homes make for an easy investment, especially because most mobile home parks are simply several individual lots that are rented out to individual owners. This also makes it easy to buy, sell, and trade mobile homes – as they are typically sold separately from the land under them.
With the amount of maintenance that would involve, that doesn’t sound like an easy investment. However, most mobile home parks are nothing more than several individual lots that are rented out to people who own mobile homes.
If you already own a mobile home and you’re looking for a buyer, you should enjoy a simple sales process and a short closing. This is true no matter what condition your mobile home is currently in, and many buyers are completely open to alternatives like selling my property as is.
Investing in a Mobile Home Park
Now that you know about the big benefits associated with investing in a mobile home park, you’re probably excited to get the process started. Congratulations! Reading this article could be the first step on your road to a bright and profitable future in the industry.
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