Do you want to invest in a Mobile home park? Do you want to get all the details related to the mobile home park broker? You have come to the right place, here you will get all the information related to mobile home parks also known as a manufactured home parks.
What is a Mobile Home Park?
Mobile home parks are plots that are subdivided into smaller lots, and which have all the facilities from utility area to driveway. Mobile homeowners are owners and tenants simultaneously. As per statistics, mobile home parks are high in demand, there are around 40,000 mobile home communities.
Why Invest in a Manufactured Mobile Home Park
#1: COVERED INLAND PLAY
MHP’S are the covered land play investment, which gives investors a benefit to enjoy cash flow or they re-develop the land as per their future needs.
#2: MOBILE HOMES ARE AFFORDABLE
The foremost reason to invest in manufactured home parks is that mobile homes are affordable. On average, the cost of a mobile home is around $130k. You can find property for $30k-$40k in colony park. You can always research affordable mobile homes as you get to see plenty of options. The manufactured home park cost to build is half less than a conventional site-built house. On average, the cost to build mobile homes is $50 per square foot.
#3: RETURNS ARE HIGH
Return is the best option to consider while investing in any property. As per the latest fact, mobile homes have a cap rate of 10% and higher. So, a manufactured home park is the best return on investment option. And there are a lot of affordable mobile homes that will yield great returns in the near future.
Mobile Home Park Broker
If you want to invest in a home park broker, you have to contact brokers who specialize in MHP’s. These brokers will give you a detailed idea about all location and price description. Mobile home park brokers are not generally publicly listed. There are many mobile home park management companies that will deal in each and every aspect of mobile home. A mobile home park broker also helps you with the paperwork and necessary stuff. Brokers will also help you in providing the financing to buy a mobile home park.
Key Features to Look in a Mobile Home Before Investing
#1: Infrastructure standards
When it comes to figuring out the infrastructural aspects, we have to look at multiple things. First of all, make sure that only certified building material had been used in construction. Also, the architectural design needs to be safe from all potential calamities.
#2: Home dimensions
Within the home dimensions, everything is covered including how it looks from outside as well as the interior structure. Pay attention to it front/back porch areas, living space, bedrooms, bathroom and kitchen etc. Adequate space should be allocated to everything you expecting instead of just filling the features list with cheap tactics.
#3: Exterior details
How much area is available as your personal space outside the home is one of the crucial things to clarify. It must be transparently mentioned along with amenities provided.
The location aspects also cover various factors together. First of all, make sure that it is a crime-free areas. Check the geographical credentials to stay safe from extreme calamities. Thirdly, your location needs to be well-connected with emergency services.
These are the crucial things you need to keep in mind while mobile approaching home park management companies. Always remember that you have numerous options to explore, so don’t settle with what you get in the first meeting.