[spex x]

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but have never even considered or been approached about investing in the mobile home investment arena.



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Stephen, I have a few mobile home parks. They are an investors dream. You're renting LAND. Nothing for tenants to steal or break. Storms can't damage it. Long-term tenancy with low turnover. Expenses are low (30-35% or so). The list goes on and on. They're great. So good that I'm trying to get rid of most of my other stuff and ONLY buy MHPs. Of course, I live in an area where there are lots of MHPs, but the ease of management lends itself to out of area investment very well.

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Thanks for replying spex!

My first question is going to be WHERE are most of your properties located in general?

With my primary portfolio in the NYC/Long Island area,I am not even aware of many around this neck of the woods?

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I'm in the midwest, and I don't like to own any property that I can't drive to in a day. I'm not sure about MHPs in your area, but I know that there are tons further south on the east coast. There are lots of older MHPs tucked back in the woods that we never see. One thing that I learned really fast is that we tend to overlook MHPs until you get tuned into them. I bet you could find some.


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Where is your primary local in finding thses opp's...or do you go out of the area where you reside,to locate around the country where a deal may arise as well?

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No, like I said, I only invest locally. I've never owned an out of area property. MHPs can easily be managed from out of area though as long as you find a turn-key property. Obviously decent parks sell at lower cap rates, but you can still find good deals. There are a LOT of old, run down parks with old, smaller homes in them. Those are projects - stay away from them for out of area investment.