Mobile Home Park Cash Flows
All my experience is with apartments, but I heard about cash flows on mobile home parks.
Anyone know a good summary about this from an owners' perspective, +'s, -s?
Mgt.
Maint
Tax issues
appreciation
etc.
I've seen the lonnie scruggs posts.
IYou should try the Multi Family MH Park forum there are some experienced folks there with Parks. I personally like them because the per unit cost is lower and the Cap rate when buying them is sometimes double what an apartment complex is. The repairs can be higher as you have to worry about the flooring (its not concrete like an apartment) but the cost to replace is so low it doesnt make an impact. The downside is depreciation of MH's, fire and natural disasters(higher insurance), and more landscaping costs (spreads out over more land). I am sure I have missed some points but that should help somewhat.
Kyle