Florida MHP Market Trends

ThomasD 2016-02-02 20:24:31 UTC #1

Anyone familiar with Florida MHP's?
It is hard to penetrate the market with returns that we are looking for. Several large parks are going for Caps as low as 5 or 6%. Any park that is listed at a 10% cap is almost all vacant or in need of a ton of Cap Ex. The Florida MHP Market seems to be strange with a huge divide between senior parks and family parks. The senior parks mostly are much nicer but are pricey, Most of the family parks are what you oicture from the show trailer park boys.
I am just curious as to what others are seeign in the Florida MHP market.
-Thomas

mrickert 2016-02-03 02:25:42 UTC #2

Hi Thomas,

What specific question/s do you have relating MHP's in Florida? Are you wondering if there are any family parks that are for sale, and don't need large CapEx, and can deliver a 10 cap?

Thanks for your continued input.

Regards,

Mark Rickert

GeorgeNiko 2016-02-03 07:13:17 UTC #3

I assure you it's not just FL where cap rates are low, take look at the NW, 10 cap is a unicorn up here. I've always though the parks in Trailer park boys are OK looking BTW.

ThomasD 2016-02-03 22:58:20 UTC #4

We are looking for MHP for sale in Florida. We generally like to stay in central Florida and tend to follow the guidelines of the MHP University (low # of POH, more than 30 total lots, prefer city utilities, etc).

ThomasD 2016-02-03 22:59:31 UTC #5

The parks in Trailer Park Boys are ok, but the way the guys act l make the parks not as desirable. HAHA

carl 2016-02-03 23:48:58 UTC #6

From a broker friend there are some really nice RV parks for sale in Mexico with nice weather for a very low price--I can pass the information on if any wants to invest there.

jhutson 2016-02-04 00:30:26 UTC #7

The dollars to peso exchange rate is at an all time high (e.g. 1 USD = 20 Mexican Pesos). Mexico in general is cheap. Saludos!

Coach62 2016-02-20 01:02:37 UTC #8

What is the trailer park boys? Never heard of it.

Carl, I would have thought Mexico would have a lot of roadblocks to keep out foreign investors, not the case? I do know they expect us to have open borders, while they allow a total of 1,500 people to imagrate every year, and you have to have a minimum net worth that's pretty high, pretty sure it's north of a million.