I Love Mobile Home Parks

[Mike Blackwood]

My partner and I celebrated our one year anniversary in the mobile home business June2019. It was the classic poorly managed park. Most of the homes there were 20+ years old and not well kept. What was appealing to us was that there were 62 homes on the available 87 pads. The park was designed and approved by the county to have 126 pads once a new road was added. We have increased the number of resident owned homes from 62 to 74. We have improved the entrance to the park in an effort to attract newer homes. That has worked as 3 brand new homes were added this year. We have increased lot rents from $150 to $175 and will move to $200 as we continue to enhance the park. Of the 74 residents 95% pay on time and the remaining 5% pay us a late fee of $40.  We have been cash flow positive from the very 1st month. If our second year is as fruitful as the first we should be cutting that new road in the 3rd or 4th year.

[Anthony Rodriguez]

@Mike Blackwood

Great first year! Are you near the property or are you managing it from afar?