By: Laura Cochran
I am intrigued by the mobile home park industry. We have such a need for affordable housing and the need is growing. I am curious about developing large mobile home parks around the periphery of larger markets outside of the city limits.
My exposure to investors and operators in this space is that the operations are significantly less sophisticated compared to other real estate types. Technology is lacking. Amenities as a whole are far behind multifamily. Operations are less business-like and more just good ole boys getting the job done.
I have 2 more books to read about the industry but this book confirmed the lack of sophistication in operating mobile home parks.
The author focuses on acquiring small but stabilized “mom and pop” mobile home parks. I appreciated that. She told numerous stories of her experience buying and operating her parks. They were interesting stories.
Most of her operations advice involved her doing the work personally herself, which is a tough recipe to avoid mistakes and treat your operation like a business. I was frustrated by that but this recipe works for her. She is clearly passionate about it.
I look forward to reading and learning from those who treat it more like a business owner rather than a self-employed person running a “mom and pop”.