Buying right triggers all actions required to achieve the desired returns. We buy at a higher cap rate above 8%
Lot rents are incredibly low to begin with, leaving us significant room to raise rents. With the ever increasing affordable housing demand, the gap between lot rents and apartment/house rents are growing bigger everyday.
PUSH BACK UTILITIES
Bill utilities costs back to tenants decrease expense ratio from the already low 40% to 30%.
Upon acquisition, we make a trip to the property to hold a "meet and greet" meeting to lay down the rules, set expectations, sign leases, answer all tenant questions, and arrange contracting works including better lawncare, new sign, fences to beautify the park.
SELL HOME TO TENANTS
Mobile Home Parks is a land business, selling homes to tenants enable us to focus on what the park is meant for - parking lots for homes.
We buy newer mobile homes to fill the lots without incurring high costs to fix maintenance. Through filling lots, we decrease vacancy, increase park value, and achieve desired returns for our investors.
Through refinancing, we return partial or all of our investors' capital thus increasing our IRR, and the speed of investor capital.
Reposition the park to sell and achieve high capital gains, further boosting return on investors' capital
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