@Ivan_ilych , as per your question:
- "Who told you this? Is this unsubstaintiated rumor?
No, it is not unsubstaintiated rumor.
One of the Owners of the MHP told us.
Over lunch one of the Owners of the Mobile Home Park told my Husband and me that a Hedge Fund was buying new MHs and bringing the MHs into their MHP.
The Owner told us that the Hedge Fund required the following to be complete before they moved in the new MHs:
- Water: Upgrade
- Electric: Upgrade
- Fence: Install Between Another MHP
- Playground: Install New Playground
- Older Mobile Homes: Remove Older MHs
We have watched them do the Water, Electric, Fence and remove Older Mobile Homes.
In fact we have had 3 of their Tenants who own their MHs call us to move their MHs to our MHP.
Please note that each of these Tenants found us.
We did NOT solicit any of the Tenants.
In fact the manager of the MHP gave the first Tenant our phone number.
Personally, I just do not understand how a Hedge Fund owning depreciating MHs (and NOT the dirt) could be a good thing.
If you have a Hedge Fund or could explain this to me, I would love to learn. I desire to constantly learn.
I agree with JD ( @jd585 ) that it is like a “very large Lonnie Dealer”.
JD ( @jd585 ) and Ivan ( @Ivan_ilych ), thank you for your comments!