We are rookie real estate investors and looking at mobile parks/houses investments. Of course it depends on the rental income and expenses, but, based on your experience in general, which one is a better cash flowing investment? Is it mobile parsk/houses or multiplex (3 units and above)? Which one is easier to manage? Thanks for your superb input.
Mobile home park!!! Just my opinion:)
Attend Frank & Dave’s bootcamp later this month in Baltimore. Then you’ll see…
Goes without saying that people on this forum will be very bias to mobile home parks.:)-D After all, this is the mobile home park investing forum. Isn’t there a saying about this? Don’t ask an insurance salesman if you need more insurance…
To compare a mobile home park with a tri-plex is like comparing a single family home to a hotel… 2 totally different investments. I own both. I will say hands down mobile home park for both of your questions. However, you generally need more cash for a down payment on a mobile home park. Yes, you can get a low money down deal… but that is usually the bait to a crappy deal in my experience.
Seems the common path is to get a few rentals within an hour drive and operate them for a few years. Use cashflow to control property and save for a down payment. When timing is right, sell or refi your properties and buy your mhp! Easier to manage, better tax benefits, more cashflow, less competition, and more stable tenant base.
Less common path is to save up credit card offers or bank lines of credit for your big downpayment… either way, invest in education first.