Why so many parks for sale?


#1

You have talked many times in the forum and on the Frank and Dave show about how many parks are on the market, and particularly the MHPS site. Why is this? If MHP are such a good cash flow investment, then why is everyone bailing out??? Why would they sell such a good business for 10 cap or greater? There seems to be a conflict in the business model between what you say is the benifit of the business, and the current reality.

Along the same lines why would so many MHP lenders be getting out of the business, if they are cash cows then why wouldn’t banks be looking for these solid investments? And I am not talking about conduit lending, but local banks who know their market. I am not finding alot of banks that want to loan in MHP.