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MHP -- Help

TCI45 profile photo
  • Friday, July 23, 2004 @ 11:13 AM EDT
  • 5 Comments

Hi,


Seems California, Texas, and Florida are the big M-home states.

Talked briefly with Charles out of Texas, who contributes here. In his area of 14,000 population he said there are probably 14 parks. In my city [in Wisconsin] population of 200,000 there are only five.

South of me in Illinois there are a more MHP’s. I have enough cash to handle 20% against a park up to about 350K.

Sorry this meandered, what I’m trying to determine is location. Is it better to invest in a MHP in a state where they are more common? Or does it matter?

Comments(5)

  • no photo
    cheryllopez7th July, 2004

    MANAGEMENT would be the first answer to your question. So ask yourself ... will you be traveling to your park? Probably the answer should be yes at least once a month or more. How much time and effort to you want to place in travel.

    If this park will be your first ... then it will be best to select a park near you. It does not have to be right in your home town. Say ... 1-2 hours away from your home. Even check neighboring states if that falls into the time of 1-2 hours away.

    Cheryl Lopez

  • no photo
    active_re_investor7th July, 2004

    I would agree with Cheryl. Management is the key to what you should do.

    If you expect to be completely hands off and are prepared to accept what a on-site manager says (or a management company) then distance is much less of an issue. If you want to more directly control the process or will be investing with a close friend, etc. then the person who will be active needs to be close by.

    So, ignore the mix of states until you get clear on how you expect to deal with the management. That will force the decision as to where to look.

    John
    [addsig]

  • no photo
    TCI457th July, 2004

    Thanks ... appreciate the replies ... makes sense and helps. PLEASE see new post regarding financing.

  • no photo
    investoraz7th July, 2004

    I purchase my first MHP just 4 months ago. It is about 1 1/2 hours away, but I am glad my first one is close. As I hope to invest in many more, this one has givin me much experience and knowledge already, so I know what to expect when I venture further away! Good luck!

  • JohnMerchant
    JohnMerchant23rd July, 2004

    Are you aware there is a "MHP Forum" on this site?

    This section is primarily for individual MH postings.

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