My wife and I are new to the MHP world and we are curious about market research for MHP’s.
We currently have a few single family homes, a duplex and storage units in a town of 60,000+ with strong jobs, a university, and the town is a the hub of a large geographic area. We have been happy with our ability to rent these properties continuously for years.
While researching MHP’s in our region we have found some deals that look good on paper but we are a little concerned with the location of these MHP’s in smaller rural communities (10,000 pop). Considering that MHP’s are a different asset class compared to single family homes, what are the market drivers that we should look for when identifying towns/cities to invest in? Are there a significant amount of mobile home owners that like to live in smaller towns?
Thanks for your help!