Given it’s hurricane history, how much of a gamble is it really, to buy mobile home parks in Florida?
Well let’s see. When was the last hurricane to do any damage to FL? It was 2005 as I recall meaning it’s at least 11 years (this season is over)
Hurricanes have little to do with it. FL is a state with traditionally lower cap rates, that’s the main concern but deals can be had.
That makes sense, thanks!
We have owned property in Florida and a hurricane happened. You have lots of warning time but when you see brick homes roof’s being removed you have some real question marks why Florida plus very expensive insurance. Since we have lived also in the Valley and had a hurricane there we much rather choose south Texas over mid to south Florida mostly because of humidity. In the summer being a young person in shape and being outside for 10 minutes becoming totally wet and at times hard to breath no thanks–our experience between two popular areas and the winner is south Texas. South Parade Island is beautiful like the Bradenton, Florida beach area. When Florida experiences their next hurricane our discussion perhaps will change especially if there is much clean-up.
Thanks for your response Carl!
Hi @Coach62, I think I came across someone elses post the other day that you had responded to and you mentioned you had a park in Florida? To elaborate on our post here, do you have a contingency plan in place for the worst case scenario just in case a hurricane does ever happen to cause any problems on your park in Florida? So far I haven’t found any that are currently for sale that look like good investments but I’d like to still keep trying since I’m already here in Florida.
It’s hard and expensive to find wind insurance. My disaster plan is to go for FEMA trailers in that event. The parks been there for decades so far as have many others without being destroyed.
Gotcha, I was under the impression that FEMA would only help out with MHP’s in a tornado
Post must be at least 20 characters. Why???
I know, the 20 character limit thing is kinda getting out of hand, LOL! I lost my ass during Hurricanes Charley and Ivan due to my inexperience in the real estate game. I didn’t pay that much attention to Katrina in regards to MHPs.