My firm is transitioning from multi-family to MHP’s, and I was looking to speak with seasoned operators/owners about their experience.
We are getting into the space for a variety of reasons, but mostly due to the following:
- recession on the horizon - focus on stable cashflows and sticky tenant base
- lack of nationwide affordable housing
- less institutional competition in the space
Our focus is mainly on southwest, southeast in mid-west, we are seeing the highest caps in these markets.
We are seeing steady deal flow from a broker network, most parks have expense ratio’s around 40ish%.
Look forward to meeting you and discussing MHP’s!