I am looking to invest in a MHP, I have been reading and learning about this industry so that I can go into it with more confidence, one thing I am trying to understand is the market indicators that would tell me if it is a good market for a MHP.
In an article I was reading about the Self Storage industry they listed some market indicators to see if the market was saturated or overbuilt for a certain city, some of these indicators were if the vacancy rate on average for the market is below 10%, meaning the Self Storage business on average are over 90% occupied, it is an indicator that there is still room in the market or that the market is not overbuilt. Another market indicator was to look at the Self Storage that have been open for more than 2 years, if these are still under 70% occupied or if they have not been able to fill 70% in the two years it could be an indicator that the market is overbuilt.
I have been trying to find these type of market indicator for the MHP industry. Can someone help me as to determine what indicators I should be looking for in a market before I buy into or look into buying a MHP in that area.
Also is there any good reading that would guide and teach me about this.
Thanks for your help…