Updated about 2 years ago on . Most recent reply
Building a legacy through Mobile Home Park Investing
One of the biggest advantages of mobile home park investing is time.
Even more impactful than in other real estate classes because MHPs are the most effective way to landbank for the future.
It is often overlooked but where else can you put money that gives a strong cash flow opportunity while preserving the land for future development opportunities? When you are building a legacy to pass down to your kids and grandkids, asset classes that take multiple forms is critical to longevity.
If you were a long-term investor of Blockbuster stock at one time you would have felt like this would last forever but stick to the fundamentals and invest in tried and true methods for the long run.
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I once had a conversation with a seller I cold called while trying to buy mobile home parks around Ft Bragg (now Ft Liberty), NC. There was an older gentleman who had bought a lot of land back in the 70s when inflation was double digits and no one wanted to buy anything. He said he was holding on to the land until Ft Bragg expanded to his doorstep and he could sell for millions. Ft Bragg is top 3 of the DOD in terms of just raw personnel and unfortunately BiggerPockets has a hand in making the rents go up artificially there, but the strategy is still sane. I have a plan to buy my entire block in the country. I have 20 acres now. I will be setting some stakes for the driveway of a 5 unit MHP soon and plan to use that to expand out to some other places thereafter on my own land. The cashflow from these units combined with the main house will more than be enough to cover all expenses in perpetuity for that land that's on a 3.4% interest rate over 30 years. Best of all, we get to provide actual affordable housing in a rural area where you can't find much below $1,000 right now.