A survey of 1,000 California mobile homes found elevated indoor levels of formaldehyde that caused physical symptoms such as dizziness and sore throats.
In 2014, ELS made $777m in revenue , …
Some states require that you become a licensed mobile home “dealer” after you have purchased a limited number of mobile homes inside a park within any 12 month period.
You May be Asked to Obtain a Mobile Home License to Continue Investing. In this section, merely describe the mobile home park or parks.
In mobile homes with tobacco smokers, add Salamon and MacTavish, the lack of airflow combines with other common pollutants to raise health risks for children, particularly during the winter months. You can have all the benefits of traditional home-ownership without the burden of tiresome maintenance, an expensive price tag and excessive property taxes.
Another safeguard as with any commercial purchase is an appraisal prepared by an accredited firm familiar with mobile home parks. Unless you operate a large mobile home park investment company, chances are you won’t have your own dedicated office space outside of a park where you work from.
You get to enjoy the perks of home ownership without the burden of paying a property tax or having to maintain the land and utilities. In most cases, your management office will be located in the park(s) itself; a brief description would be all you need. Obviously, if you were to put $1,000,000 of cash into a mobile home park where there are risks and time involved in managing that investment, you will want more than a 5% return on that money. Be that as it may, anyone living in a mobile home should be prepared for the silent judgment or surprise when they first mention it. The greatest advantage of living in a mobile home park is affordability.
Mobile home parks. Weigh the advantages and disadvantages of buying a mobile home and you may be surprised at your findings. Investing in a mobile home can be a precarious situation. 5.)
Trailer parks: While most Americans will never live in one, negative stereotypes of mobile homes and their inhabitants are all too familiar. One key factor to research is the historical vacancy rate which will confirm the stability of ongoing cash flow for debt service and profitability. This license does only apply to mobile homes inside parks. Is mobile home living worth the risk? Mobile homes placed in mobile home parks typically decrease in value over time. He has the keen ability to quickly assess deals, cut through hype, measure upside vs. downside risk, and make sound decisions. Advantages of Mobile Home Parks. A mobile home or a “manufactured house” is a great place to call home!
As with any investment it is based on ‘risk and reward’. As you analyze whether a mobile home is a good investment for you, there are a couple things to keep in mind. Cap rates have been all over the place in that last few years but they are once again rising. Parks aren’t for everyone. Mobile Home Investment Disadvantages.
But since most mobile homes are located inside of parks, it is a particularly tangible reality. Even its supporters have their reservations. On the other hand, land normally appreciates over time.
This downside is not mobile home specific.
Changes in value over time.
Dave Reynolds is a successful real estate investor that has specialized in the purchasing of Mobile Home and RV Parks for the past 12 years. Sam Zell’s Equity LifeStyle Properties (ELS) is the largest mobile home park owner in America, with controlling interests in nearly 140,000 parks.
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