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Mobile home parks seem to have earned an unjustly bad rap in the investment game. As a primarily affordable income based asset class, mobile home parks have received the reputation of being an investment with low returns and little value to an investor’s portfolio.
Mike Conlon, the “Mainstreet Millionaire” has some pretty convincing arguments that prove otherwise. After cutting his teeth in the Florida multi-family market, Mike bought his first 4-acre, 80 unit mobile home park in the mid-2000s. Now President of Affordable Communities Group (ACG) Mike’s company owns and manages 25 mobile home communities throughout the southeast. With each complex netting over $100k in returns, Mike shows that with due diligence and an emphasis on community, mobile home parks may present a sizable addition to any investors’ portfolio.
- Mobile Home Park or Trailer Park?
- Change the paradigm: affordable housing is not sub-standard
- Property Class with Room to Grow
- +50k parks in U.S.
- No new developments in past 20 yrs.
- Low Turnover on Units, but Stable Revenue Base
- Permanent living situations for majority of residents
- Costly and difficult to tow a mobile home, low incentive to leave
- Own the Soil, Not the Unit
- Easier and more cost-effective to lease space to mobile homeowners.
- Recession-resistant… With Proper Management
- Property class affected least by economic downturn
- Demand for affordable housing increases during recessions
- How to Earn +$100k
- Know the area and the market
- Stay within 30-40 min of metro areas
- Look for high-occupancy complexes or look to improve occupancy
- Build communities and increase resident involvement
You can get Mike’s best-selling book, Unconventional Wealth: The New Main $treet Millionaires on Amazon
Mike attributes his success in real estate to the book Rich Dad, Poor Dad, available on Amazon
Interested in a mentorship under Mike? Want to stay up-to-date with market news and information? Visit Mike’s website www.mainstreetmillionaire.com for these resources and more!
For more information on Mike’s mobile home parks visit acgmhc.com