Did you know that the southeast United States is the absolute best place to own a mobile home park as an investment? Many of the residents own their mobile homes and you simply lease the land, collect rent, and make sure any park-managed utilities are running smoothly. Residents of mobile home parks are some of the most loyal tenants around, far more loyal than apartment renters, and consistent.
We'd like to share this great investment opportunity with the Steemit community of investors, many of you who may never have considered a mobile home park as an investment property. It's fairly hands-off, too, though having a good manager or management company definitely helps, as with any rental property. Why collect rent from one tenant when you can collect from dozens, even hundreds, without the building maintenance?
If this one is a bit high in price, we have others with lower price points, and even seller-finance, at www.mcanuffgroup.com/featured-properties. Seller-finance is where the seller of the property agrees to be the bank for you. It's an attractive entry into a property without having to take out a hefty loan from an financial institution and often the seller is open to it because it still gives them a steady stream of income without ownership.
Eden Cove* Mobile Home Park is an all-ages 72 lot community established in 1954 in Spring Lake, North Carolina, as a quiet country lifestyle. This is a property with significant upside potential, meaning that with a little elbow grease you could substantially increase the ROI and value of the park. The property features hard-packed gravel roads and city water. The major employers in the area are the US Air Force and Honeywell, with Walmart located 4 miles away. Having Walmart so close is very important in the world of mobile home park investing, and we call it "The Walmart Effect."
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The Walmart Effect, in a nutshell, is highly attractive when it comes to ensuring that your mobile home park is not full of vacancies. Remember, with any property location is key, including mobile home parks. While many mobile home parks are rural and on the "outskirts of town", location for the target market (ie - the socioeconomic demographic most likely to want to live in a mobile home park) is still critical. Where does this target market prefer to shop and even work? That's right, Walmart. The prices are right and the locations are where they need to be. For this property, it's strong at only 4 miles away.
Spring Lake, North Carolina is a quiet family-oriented town in located in Cumberland County, North Carolina. It is well known for its close proximity to both Ft. Bragg and Pope Air Force Base, and boasts a championship 4.5 star golf course. The median home cost is $138,000 and a 10-year home appreciation average of 6.55%. So, in addition to Walmart, there are major, strong employers of thousands in the area. Ft. Bragg and Pope are training bases with a large enlisted service population. Taking a look at the average salaries in the area and the median home cost can help you determine if you'll have a steady supply of your special target market.
There is more information about this property located at https://www.mcanuffgroup.com/eden-cove-mhp. And, if you'd like even more than that you can click on the button on that page for "Request Memorandum."
But before you go...
