Other John
OtherForum Replies Created
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Guys –
I don’t know if you know but manufacturer home communities have been in the lime light but more now than ever before. A Canadian Reit is about to purchase YES COMMUNITIES FOR 10 BILLION DOLLARS. https://ca.finance.yahoo.com/news/brookfield-talks-buy-yes-communities-111741141.html They say it will be one of the largest single purchases. I have seen big p/e now into our markets buying big and small parks very similar to apartments 10-15 years ago, I think the big difference is that cities are not giving permits to build new manufacture home communities. I am 20 days out from selling my community to a P/E firm. I truly believe that this is one of the last places for affordable housing. if you want to invest – reach out to me at jjoe@rpequity.com thanks Johnny
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Rocky let me know if I can help- Moved from apartments about 6 years ago and have gone full cycle on a few Mhps. Can share with you the differences and the good and bad. Really it is dependent on skill set and exit strategy.
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This is a good write up.. I have been working Mhp for close to 7 years – gone full cycle on a few and bought- held and refinance them also. I would say they are more upside but you need a good operator and understanding of the exit strategy…. Also there is one point I would make is the homes if not attached to the property is typically considered personal property.
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Dawn – I have to ask- ChatGPT fan or Claude fan, no matter appreciate the thoughtful and informative post.
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Nice post…. Well I wrote up the 3rd draft of this business plan. A lot of it is easier for the conversion because I we have been building homes and bardos in the area as well as converting a mobile home park into a subdivision with a hoa and covenants, so we have a lot of the infrastructure people to assist. The challenges is it is a whole lot of moving parts. Right now I am trying to add something personal and special into community idea. In the United States there are these special places called Makerspaces- many time they are 503cs or in libraries but what they do is foster an environment of growth, skills and education. I actually learned woodworking and silkscreening and plasma cutting at a place like this – they have hydroponics, gun reloading, pinball, electronics – the benefit is not only the skills but the network, the people and the cause.
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Cam- nice meeting you…. I am looking forward to hear what you come back with..
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Thank you…. In the next few weeks if Gus is ok with it, we will start on the journey….
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Yes- in one of the parks and subdivisions. Also we take care of the grounds provided that there is not a fence. There are other parks in the area but they only allow weekend rentals.
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Gus- I must be reading from your playbook. So I try to get all of my deals to be owner financed first. And infill and value add and force the appreciation..but I am getting some buyers now that don’t want to owner finance.. or I guess the interest rates hurt the negotiations … also when I get into more hospitality rentals it does take more working capital. But your 2 cents are very spot on….