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Expand Y our Proper ty Por tfolio

accommodate expansion. Alternatively, self-storage can provide a profi table
way to hold land while you wait, say 3 to 10 years, to redevelop the site into a
higher and better use (e.g., retail offi ces).

Mobile Home Parks

You can invest in mobile home parks in two ways:

1. Own the set-up pads, provide utilities, and maintain the site; or
2. Own the pads and the mobile homes.

Exhibit 15.4 shows a sample of listings.
As with self-storage investments, you can hold mobile home parks for

cash flow until the time is ripe to redevelop into a more profitable use. It’s
also common practice to delegate day-to-day management to a park tenant.
Typically, park tenants are always looking for ways to make extra money.

Exhibit 15.4 Sample Listings for Small Mobile Home Parks
Sedgwick, Maine Status: Active
This new, seven-acre mobile home Price: $195,000
park is being offered for sale to Bldg. Size: N/Z
settle the estate of the original Spaces: 20
developer, now deceased. Cap Rate: 8.5%
Primary Type: Mobile Home/RV Community
Ridgecrest, California Status: Active
18 spaces and two houses will Price: $221,000
transfer with sale. All spaces Bldg. Size: 1,111 SF
have full hookups. Property is a Spaces: 18
turnkey operation with very low Cap Rate: 9.50%
maintenance. Primary Type: Mobile Home/RV Community
Wilder, Idaho Status: Active
New terms! Seller may carry with Price: $219,000
$40,000 down. 12-space mobile Bldg. Size: 43,560 SF
home park with one park-owned Spaces: 12
mobile. On city services, paved Cap Rate: 9.30%
street. Can assume loan. Primary Type: Mobile Home/RV Community

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