Thinking Beyond a 10 Cap with City Utilities and No Park Owned Homes – Julie Simon
As a real estate broker – and, especially, as the one who emails out our team’s offering memorandums – I am constantly emailed by potential buyers who are only looking for an opportunity that offers a 10 cap, has city utilities and of course – contains no park owned homes. To please keep them in mind when one comes around. You and everyone else, too.
I understand the importance and potential implications of this criteria but it is time to re-think what a smart investment is when it comes to the MH space. The smart buyers will continue to out think and outmaneuver the new investors to the industry. They will not be scared to buy and own park owned homes, to sub-meter utilities, to fix a water leak, to add additional sites. If you are one of those buyer, no doubt your number sits high on our call list.
Look forward to next month’s blog post on the importance of accurate books and records.