Many investment experts recommend buying real estate because it’s an asset that typically appreciates, especially in expensive markets like California. Homebuyers pay a premium to live in the Golden State, regardless of whether they are renting or purchasing a condominium, single-family home, or manufactured home.
Investors can create a stream of passive income with any type of housing, but purchasing a mobile home park can provide an array of opportunities. Mobile homes and manufactured homes are more popular than ever, not only due to the affordability but the quality of craftsmanship in factory-built housing.
Successful apartment owners periodically remodel, repair, and upgrade their buildings and rental units to maintain their income stream and occupancy. Similarly, diligent manufactured home community owners and operators properly maintain and periodically upgrade their common facilities and amenities. Also, the most common structures that homeowners and visitors to their community observe are the homes on rented lots throughout the park. The best operators promote the replacement of older mobile homes with modern and energy-efficient manufactured homes to maintain or improve the curb appeal of their communities.
Through diligence and hard work, the right experienced and hands-on property management company can greatly enhance the appearance, value, and financial return of a manufactured home community. 100% occupancy in well-run mobile home parks and manufactured home communities is not uncommon. However, maintaining full occupancy while staying at the top of the market requires planning and follow-through. Knowing what to do is important. Many operators know what to do, but fewer do it. That’s why J & H adopted and promotes “Follow Through” as one of our five core values. We do what others promise.
If you’re looking to invest, J & H Asset Property Management can not only broker your purchase or sale of a manufactured home community, but we provide a full spectrum of property management services to increase your ROI (return on investment) through our several integrated and related services. We broker the sale and purchase of manufactured home communities and RV parks. We also successfully manage more communities than any other firm in California. We plan and manage the rebuilding of these communities from below ground (utility system replacements) up (building remodels). We also operate Home Crew, a separate, licensed rehab, repair, and remodeling construction team to serve our client’s communities. Home Crew has remodeled hundreds of older mobile homes for resale or rent to maintain a continuous income flow in the communities.
When the opportunity arises, our sister company HomeQuest Sales can replace outdated mobile homes and trailers, or fill vacant spaces, with new manufactured homes. As mentioned, such upgrading of the community is essential to keeping it relevant, attractive, and current to maintain and enhance income and property value for years to come.
If you have considered purchasing or selling your mobile home park, are ready to step back and let someone else “take the reins” of management, or feel your current management is lacking, give us a call.