Filling vacant lots in a small mobile home park

[Brady Allen]

I am analyzing a deal for a 21 space mobile home park in a rural Iowa town. 13 of the spaces are occupied, 8 of which are park owned. The remaining 8 spaces are vacant. I am curious if anyone has experience bringing new mobile homes into a park of this size? The population of the town is around 1,300 with a median income of $56,000. This would be my first investment in a mobile home park and I am skeptical about the ability to introduce 8 new homes into this type of market. Any feedback on those with a similar experience would be greatly appreciated! 

[Rachel H.]

@Brady Allen You may want to talk to a few mobile home dealerships in the area. See how business is doing. Usually they can give you a good idea of the demand in the area since they are in the business of selling new mobile homes. Also, check with the local chamber of commerce to see if there is any economic development and/or businesses planning to come into the area in the future. Hope that helps!