Other John
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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….
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Gus- Funny you should mention that they have one of the best golf courses in the state within 10 miles. Also they are planning on building water parks and boardwalk in the same area. Close enough but a little a way from the congestion. I hope we keep our starry night for a while longer. What really makes this place special is the access for the get away for people from large companies -1 example is just 40 miles away you have a new 30 billion dollar fab plant being built. Yes- huge slice of heaven and the other benefit is I don’t think I need to worry about water because we are on one the largest reservoirs in the states.