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Anyone here own a storage faculty or mobile home park?

2,845 Views | 19 Replies | Last: 6 yr ago by Jevertson
mwp02ag
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AG
I'm looking to 1. Build a new storage facility in San Antonio and 2. Buy a mobile home park this year. I'd love to chat with someone in those spaces.
schwack schwack
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AG
I'm going to be watching this thread, too.
Greeze06
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Storage Facility....No. would like to though.
Mobile Home Park.....No...sorta. would like to though.
RV Park....Yes.
The Fife
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Storage? Nope.

Mobile homes - there was this one park but it was really hard to find decent management for. The supervisor was an idiot and on again, off again drunk and the assistant wasn't great about collecting lot fees either. But most of the problems came from a couple of residents who never had a job as far as I could tell, they basically hung around all day and grew weed and got into trouble for mostly petty crimes. They had a friend who wore huge glasses and took care of about a half dozen cats, but he was mostly harmless.

Anyway the place is called Sunnyvale and it's in Dartmouth, Nova Scotia. If that's the one you're thinking about buying I'd pass.
mwp02ag
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The Fife said:

Storage? Nope.

Mobile homes - there was this one park but it was really hard to find decent management for. The supervisor was an idiot and on again, off again drunk and the assistant wasn't great about collecting lot fees either. But most of the problems came from a couple of residents who never had a job as far as I could tell, they basically hung around all day and grew weed and got into trouble for mostly petty crimes. They had a friend who wore huge glasses and took care of about a half dozen cats, but he was mostly harmless.

Anyway the place is called Sunnyvale and it's in Dartmouth, Nova Scotia. If that's the one you're thinking about buying I'd pass.


This is one of the strangest and most funny post I've ever read on texags...and that's sayin a lot! It sounds like it could be bought for pennies on the dollar! I'd buy it, buy a new home to put in place of the ****tiest one there and then invite local PD to make use of it for reporting/ breaks.

Alas no, I'm looking in the greater San Antonio area. I have one in mind that I want to approach the owner on but it's a fairly large MHP.
mwp02ag
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Do you live in and manage the RV Park? I'm less interested in that space but the MHP I'm gonna approach has some dedicated RV spaces.

The turn over is less attractive but it's a nice feature to have.
Greeze06
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No, I have an onsite park host.

The MHP should not require one, as it is...or should be much less turnover.

Mine has a slight mix as well, but mostly the rv spaces.

Good luck. Would be happy to share anything.
bigbass1170
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Looking to get into storage and / or possibly an RV park next year. Will be watching this thread. Good luck!
mwp02ag
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I'm going to cross post to business and see if that gets any bites. Thanks for the replies so far.
hbox
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mwp, I'd be happy to chat with you. My business partner and I along with our investors own 3 SS facilities in FL, totaling about 1500 units. We also have significant equity invested with a large mobile home park owner/operator in funds that own 200+ parks across the central US.
mwp02ag
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Awesome hbox. Email sent, you may remove the email above so that you don't end up being registered to catfacts.com daily newsletter.
The Fife
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mwp02ag said:

Email sent, you may remove the email above so that you don't end up being registered to catfacts.com daily newsletter.
Yeah... that ship has already sailed.
itsyourboypookie
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Currently own three mobile home parks and one RV park.

Close on two more mobile home parks next week.

Talk about it 24/7 in a fb group called roughneck 2 real estate.

Working to acquire 1000 units this year.
Copp
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Do you own just the land, or the mobile homes as well?

If just the land, Is financing more difficult to get than for a standard single family investment home?
Diggity
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My buddy, class of '08, runs a PE firm that specializes in manufactured housing investments. From what I gather, each deal sits alone and the minimum investments are around $50-$100k. He manages around 30 parks in the greater Houston area and I know they are closing close to a deal per month at the moment.

Seems like a pretty strong market that a lot of the big boys are trying to get into.
mwp02ag
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My man! That's what I'm talkin about and where I want to be. Open to a call?

itsyourboypookie
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mwp02ag said:

My man! That's what I'm talkin about and where I want to be. Open to a call?

figtreehomessa@gmail.com


Email sent
itsyourboypookie
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Copp said:

Do you own just the land, or the mobile homes as well?

If just the land, Is financing more difficult to get than for a standard single family investment home?


Own everything.

Our bank loans at a 9 cap on a income based appraisal
Copp
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Owning parks across texas and the mobile homes, is the management difficult? Having parks spread out, having crews where you need them to handle maintenance calls, etc?
itsyourboypookie
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Copp said:

Owning parks across texas and the mobile homes, is the management difficult? Having parks spread out, having crews where you need them to handle maintenance calls, etc?


Using a website called appfolio and Facebook to self manage.

We are still building this system. But we close on one in Pecos and one in Ft Worth next week. Will be the first two parks we've onboarded through appfolio.

But he more we learn about their product, the more we like it.
Jevertson
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I'm an underwriter for agency lending on mhc and would be happy to discuss/answer any questions from my perspective. Underwrite for anyone from publically traded to mom and pops. Also interested in getting into investing in the next few years.

Email is username at g mail.
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