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  • Mobile Home Park Investing | Complete Controller

    Mobile Home Park Investing

    Mobile Home Parks - Complete Controller

    A few years ago, if you were looking to invest in mobile home parks, you might have been labeled as crazy. However, times have changed, and so have many people’s opinions. After the last real estate crash, investments in this sector had been lucrative, and there was good money to be made. The industry has reemerged with time, and now there is tough competition among single-family homeowners who want to purchase a house before interest rates jump up. The market has seen a boom, and prices for large apartment complexes do not make sense to small-time real estate investors. Only large investors and businesses are venturing into them, it seems. 

    Mobile Home Parks

    In such a scenario, investors can either sit in and wait for a crash or be creative and invest in mobile home parks, which have become quite popular recently. The distinguishing feature of these parks is that the residents own or rent the home while you acquire and lease the land to them. Though it might be hard to purchase the land in the first place, once you are in the game, a handsome amount of money can be made. Here are some benefits of investing in real estate mobile home parks.

    Download A Free Financial ToolkitLow Cost Per Unit

    When you invest in a single-family home or large multifamily complex, the cost per unit is higher. However, mobile home parks allow you to spend less and acquire more units. It has been reported that mobile homes have the highest return and risk ratio rate compared to any other real estate investment class. Because you only must acquire the land and not the unit itself, the cost is significantly lower, enabling you to own many more units than you would have otherwise.

    Low Maintenance Costs

    Working with contractors is one of the most grueling aspects of owning a property. With mobile home parks, you do not have to worry about repairs and maintenance, as tenants do it themselves. There will be some expenses related to the park’s upkeep, but they are significantly less than you would have paid otherwise.

    CorpNet. Start A New Business NowSpreading the Real Estate Risk

    Since mobile home parks allow you to own more units, the risk is spread out, and you acquire more units for your investment dollars. You do not have to worry about someone evicting the property suddenly and leaving you with heavy losses because you have other similar investments that continue paying you dividends. Investing in mobile home parks is a great way to secure your overall investment as the risk spreads across your portfolio.

    High Demand

    While real estate prices are rising greatly, income levels are not rising to the same extent. Therefore, the demand for well-maintained mobile home parks is ever-increasing. Baby boomers living on a fixed income are retiring, leading to a high demand for affordable housing. Owning a mobile home costs less than owning any other property, and many low-income people are inclined to invest in it. That is great news for you as a mobile home parks investor. 

    Complete Controller. America’s Bookkeeping ExpertsLow Turnover Rate

    Out of all the expenses in a real estate investment, the tenant turnover rate is one of the costliest. Repairing and cleaning costs can be significantly higher, and you are also stuck looking for new tenants, which requires marketing costs and other resources. Moreover, you are also losing money because the property is empty and not receiving payments.

    The turnover rate drops when tenants own mobile homes and only lease land. Moving their house out of a mobile home park will cost them quite a bit, so most choose to stay for long periods. The risk of losing tenants is also minimized, another powerful benefit of such an investment.

    Cubicle to Cloud virtual businessAbout Complete Controller® – America’s Bookkeeping Experts Complete Controller is the Nation’s Leader in virtual bookkeeping, providing service to businesses and households alike. Utilizing Complete Controller’s technology, clients gain access to a cloud platform where their QuickBooks™️ file, critical financial documents, and back-office tools are hosted in an efficient SSO environment. Complete Controller’s team of certified US-based accounting professionals provide bookkeeping, record storage, performance reporting, and controller services including training, cash-flow management, budgeting and forecasting, process and controls advisement, and bill-pay. With flat-rate service plans, Complete Controller is the most cost-effective expert accounting solution for business, family-office, trusts, and households of any size or complexity.LastPass – Family or Org Password Vault