Mobile Home Park investments
Marganne Meyer
I just read a very interesting article about the Mobile Home Park
Investment Boom. (It was published in August 2007, so adjust for
economy.)
http://www.nuwireinvestor.com/articles/mobile-home-park-investment-boom-51204.aspx
Although I didn't understand all the ins and outs, I thought the
article was organized well and speaks to some of the discussions
we've had here concerning trying to turn a MHP (mobile home park)
into low cost community housing. It breaks down the elements you need
to evaluate before investing in a mhp. This includes larger parks
consisting of manufactured home on larger lots. It even spoke to
residents constructing separate housing (storage or guest home) on
their lot.
There was a great argument supporting a 'boom' in investments. Add in
the current housing crisis and it bolsters the argument for investing
in mhps.
There is a lot of variety in types of mhps. Since we have talked
about the potential of using mhps as a vehicle for creating a low
cost community due to zoning, I'm passing this along.
I'm still not convinced a group of community dwellers could raise the
capital for purchasing a mhp, but would love to be proved wrong. What
do you think?
Has anyone here cornered a cohousing developer and asked them how
expenses could stay within reason for a LCCH?
Cheers!
Marganne
Michael Janzen
buying a mobile home park and inviting people who want to live in tiny
houses is a great way to build a tiny house community without much
permit trouble at all, especially if you kept the houses on wheels.
For example right now on http://www.mobilehomeparkstore.com/ there are
many mobile home parks within reach of a small group of people on the
market. Here's a list in California... albeit in remote areas of
California.
Doyle, CA (Sierra mountains north of I-80) 31 spaces $259,000
($8,355 / space)
Dobbins, CA (in the foothills above Marysville) 49 spaces
$480,000 ($9,795 / space)
Santa Paula, CA (inland from Ventura) 72 spaces $995,000
($13,819 / space)
Burney, CA (east of Redding) 30 spaces $769,000 ($25,633 / space)
It just seems very doable for a motivated group of people.
-Michael
On Feb 25, 12:13 pm, Marganne Meyer <marga...@macnexus.org> wrote:
> Hello Everyone!
>
> I just read a very interesting article about the Mobile Home Park
> Investment Boom. (It was published in August 2007, so adjust for
> economy.)
>
Nemo
Thanks for sharing the article! Not having a community where a tiny
house on wheels can park has been our biggest obstacle for
transitioning. We can buy the home but with no place to park/live in
the area it would just go into storage :(. We have checked out RV
parks in the area but the asthetics leave much to be desired...the cal-
expo park for example felt like a walmart parking lot. In the hope of
finding a new community we recently joined a new group started by
Hilary of www.thistinyhouse.com called the tiny house village network
(http://www.tinyhousevillage.com/) you may want to check it out. :)
Cheers,
Logan.
>
> I just read a very interesting article about the Mobile Home Park
> Investment Boom. (It was published in August 2007, so adjust for
> economy.)
>
Brian Bartholomew
> Most local governments are not friendly to mobile home parks and
> have made it difficult to get new properties zoned for that
> purpose. So while the supply of parks is dwindling, there is not a
> sufficient number of new parks being created to meet this
> demand. For the savvy investor that could spell an extended bull
> market for mobile home park investments.
This predicted mobile home park bubble is mostly a creation of zoning.
When the next wave of adjustable rate mortgage resets hit in
April/May, I expect zoning will start to get ignored because the
formerly non-marginal middle class will not be willing to live in
their cars. If you wait six months, the zoning bans on affordability
may be dead enough that you can do LCCH with existing built houses.
Brian