Trailer Park Millionaires Of The USA
Trailer Park Management CompaniesBusiness is so good, that companies teaching out to manage a trailer park are starting to pop up across the country. One example is Mobile Home Park Academy, run by Kevin Bupp and Charles Dehart. They even have their own podcast entitled The Mobile Home Park Investing Podcast that has over 100 episodes out on iTunes. They began their company after the 2008 recession when they discovered that the market had low competition and would bring in at least 20% cash on cash returns, no matter what happens with the economy. Another trailer park multimillionaire is Frank Rolfe, the founder of Mobile Home University and fifth largest owner of mobile home parks in the US. He even runs bootcamps across the country to teach potential new investors how to get in the industry and show them examples of what to do.
Why Investing In Trailer Parks Is A Good IdeaThere are some real benefits in investing in trailer parks rather than other types of real estate. They have a lower cost per unit, particularly since the price paid is per lot instead of per trailer on the lot. They also have lower costs for repairs and maintenance, since the owner of each trailer has to pay for its upkeep. The demand is quite high for these low-cost housing options as incomes are going down and people are without savings. When it comes to retirees and other people living on benefits, they are even less likely to be able to avoid apartments or houses. Similarly, the turnover in trailer parks is rather low, both as a result of limited options and due to the high costs related to moving the homes out. The opportunities to invest remain interesting as “mom and pop” owners are moving into retirement and therefore looking for someone to sell to. As these small owners are not usually professional landlords, a new owner can buy at a reasonable rate, make improvements, and increase the tenant experience – and often attract new ones. And even with the field getting more publicity, it still has a lot less competition that other real estate investment opportunities.