Investing in Mobile Home Parks

1. 5 Advantages of Investing in Mobile Home Parks Buying a mobile home isn't as simple as moving to a new home, but there are several benefits to owning this type of home. Check out these five advantages from Mobile Home Parks in Mesa Arizona to moving to a mobile home today. Lower Cost per Unit Investing in large multifamily properties or single-family homes carries a high cost per unit. Most park owners own the land, not the buildings themselves. This means that the investment is often much cheaper when compared to the number of units. Lower cost for repairs and maintenance One of the things that make you most excited about mobile home parks is that you don't have to deal with contractors. If you hate dealing with contractors when you are doing work on single-family homes and multifamily properties, the repair and maintenance cost is low. Spread Out Risk Since mobile home parks allow investment companies to acquire more units for each investor dollar, their risk decreases. That is, with more tenants, the risk is spread out more. For instance, if you own four single-family houses, and one tenant forces you to evict them and you are left with $20,000 in expenses, it amounts to a loss of five years' profit on your entire portfolio. Although those kinds of situations are rare, they do occur. The demand is high. As a result of numerous factors, the demand for mobile homes in well-managed parks is on the rise. According to Leonie, new mobile home parks are not being developed due to government zoning, gentrification, and zoning changes.

2. 5 Advantages of Investing in Mobile Home Parks Lastly, since baby boomers on fixed incomes are retiring in record numbers, the demand for affordable housing will only increase. More and more lower-income Americans and retirees are looking at mobile homes as a way to remain homeowners. Less Tenant Turnover According to 55 Plus Communities in Mesa Arizona, if you have owned multiple single-family and multifamily properties, one of the most costly expenses for a property owner is tenant turnover. Cleaning their unit, finding a new tenant, and the lack of income during the vacancy can take thousands of dollars out of an investor's pockets every year.