5 Biggest Risks to Buying A Mobile Home Park

Even though I believe investing in mobile home parks is the best-kept secret in real estate investing, just like any other investment strategy, there are risks involved. There are 5 primary risks that I wanted to talk about that you need to be aware of if you're going to buy a mobile home park.

[@Learningthetruth7]

Thank you for using the term "community" instead of park! You made my day. Why? We need to all continue to upgrade the image of the industry as it is money in our pockets as well as creates a much greater sense of pride of ownership for the homeowners. No more "trailer" and instead "home." Trailers are easily moved, these homes are not. Community instead of park reflects reality. Parks are for RV's which temporarily park there and then are moved....again these "homes" are not very mobile. And whenever I am face-to-face with someone who lives in the community I always refer to them as the "homeowner" and not RENTER! Again, there is a critical shift in "image" that has a positive effect for all.

[@steffie6510]

Well a homeowner is not a renter and a renter is not a homeowner, so there's that

[@Darnellp87]

@@steffie6510 except when they rent the land that their home is parked on... So there's that

[@cesartorresguzman919]

Best comment ever! Many people degrade MH community. But there’s nothing wrong with them!

[@FreedomMath]

VERY well done video, Kevin. We take the same approach to parks with POH valuations by valuing the Mobile Homes like we're buying cars and the park based off of lot rent. Also, great point about city water/sewer DD!

[@johnstancliff7328]

and the other thing to look at is the vacant lots and abandoned homes..... how are these going to be addressed in 2021.... Lenders hate manufactured homes in parks and the MH industry doesn't have decent dealers who want to work with the parks. realitors hate Manufactured homes because the resale value is so bad and they lose money... and if you have people in the parks that are trying to own more then 2 homes, subleasing issues arise.... and then theres the homes themselves... anything prior to 1978 is bad, 78-2000 is OK, and 2000 to current is good.... PROVIDING they were PROPERLY taken care of by the owners. this is the issue in the parks! I live in one, and its crazy!

[@AshleySpeaks4U]

Investors are destroying lives. You "clean it up" by getting rid of owners. You buy their homes for low-ball deals, or drive them out via jacking up lot rents because you planted grass and mow it or do a needed update. You decide to swoop in and decide renters can pay MORE just because YOU swooped in and put in a new septic-rather than keeping prices the same accepting lower profit. "Cash flow"-these are PEOPLE! 😢

[@trailhiker8063]

Love your vids. Just subscribed. Keep up the awesome work.

[@pastorjohndas9164]

Thank you. This video is very helpful and informative.

[@charyse1361]

This was very helpful! Thanks for the upfront list and honesty.

[@davzadm]

Thank you so much for your valuable advise. Could you or anyone here let me know the resources available to find the good estimate value of a community?

[@Dairoko]

Awesome information! Thank you for sharing.

[@steffie6510]

Good info

[@JAVRTH]

Low income seniors?

[@mattalford3932]

1k a month or more is in no way shape or form affordable housing omfao.

[@m.rodriguez9102]

Lie

[@jennywang2632]

Thank you, Kevin!! your sincere honest advises are very valuable!! I am looking forward to listening your next video soon!

[@ChiefImpeMentor]

Outstanding video, Kevin… Every second was valuable content!