I have a question about investing in single wide parks vs double wide. Is it a bad investment to buy an all singelwide park?
or should it be a mixture of both single and doublewides, or just all double wides to be a viable investment. I ask this because I am looking at a park and it contains all single wides.
Thank You
Kelvin Ayres
All singlewide parks are by far the most common thing in our portfolio. We prefer a mix of old and new homes in our parks – but with the majority being old and mortgage-free. Doublewides are a rarity in most family parks, and have no bearing on our decision to buy or not.
In our parks that have DW lots, we get lots of calls for prospects wanting DW homes. The problem is , most applicants can’t afford the higher payment on a DW. As you might expect they are much more expensive to purchase and move. You typically cannot charge that much more lot rent for a DW (since the home itself is more, higher lot rent will just make the total that much more unaffordable). Bottom line is we prefer SW parks - much easier to buy homes and fill lots.
Bret