What are the best sources to determine MHP demand, supply and pricing in an area?
What service, data site, or process do people use to determine if the market can support additional POH availability and at what price?
We believe this is an important step in determining whether or not to acquire a new park. Currently we try to figure out competitor pricing and if possible drive through a few parks to estimate occupancy. But this is a rough and an inaccurate estimation at best.
In addition, while our process is somewhat acceptable for more urban areas, towns with less than say 20K people, we have no idea if there is a large enough population / demand to support our park plans.
Any responses much appreciated!
Per the school of MHU University, I use test ads on Craig’s list and the local/largest news paper - 3 inquiries a day indicates reasonable demand.
To determine the availability and demand of housing , Best Places.net provides the vacancy rate of rental homes in the city. If this is higher than the US average I note it as a potential threat. If the selling price of stick built homes is low I consider this a threat as well. I also call parks in the area and ask them if they have homes for rent, how many they have, how many bed/bath they have and what condition they’re in - all while trying to sound like a potential renter. I also ask how their park compares to the one I’m thinking about buying… this gives me a feel for the park I’m thinking about buying - all subjective… and call the local police station to see if they get a lot of calls relating to the park.
Most of the answers to your questions can be learned at the boot camp… I highly recommend going.