hey how's it going. I've been looking at parks for about a year and have talked to a lot of large portfolio owners.
Basically you're going to become a dealer to buy homes new because it's difficult to buy that many quality used ones. You're looking at approx 25k x 130 = over 3 million even over time.
As far as the current park owned homes, people who don't put their own blood and sweat into maintenance average somewhere about 50% expenses with insurance ect. I talked to another guy who said 30% once you get your contractors worked out and do some yourself. That's the main reason I believe a lot of investors put zero value on the rental income above the lot rent.
The expense ratio on a park only 20% full will be quite a bit higher than when at 75% as well.
If it's a hot market, great location and you have tons of capital available then it might be for you, however I would get more educated on specific due diligence first.
It's a great industry that I hope to do full time and meet with other smarter park owners on a regular basis but it can also hurt you if your not sure what angle to tilt your head to really see the beast. :)
