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I think that ties back to the factory, not any negative stigma there. They're just very manic over a home titling for some reason. In fact, we're not there with the largest owners of parks in the state of Illinois.
It's very, very major city, very impressive downtown. All kinds of neat things going on, new development and stuff. You have areas that have a lot going on. Then you have areas that don't have much going on. Number fifth, the state of Washington, Washington as 274 for mobile home parks. It's a major player in the mobile home park business.
Mobile Homes Direct 4 Less
Most mobile home parks are similar to subdivisions in that each resident owns their own home and are basically stakeholders in the business model. Bogue Pines Mobile Home Park, located right off the banks of Bogue Sound. A trip to the beach is only a 13-minute car ride. As for the park itself, Bogue Pines is an all-ages community that offers large, wooded lots, a pool, a fishing pond, trails and more.
Even though it's main, it's a new England. There is not super-duper robots so it's only really average and cap rates. Similar desirability I've never heard with not getting the load there, but at the same time if you were in a real rural area, I can see you're not getting a loan. Moving on to or 21st state Tennessee. 800 mobile home parks, median home price, 159,527 people.
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Lender desirability, incredibly high. It'd be very, very hard on any decent deal on Oregon not to get an attractive loan on it. Not something that I hear people complaining about. We don't own any parks in Oregon, so that never owned a park there. It's a big item in Oregon of course is just a huge demand for affordable housing.
These are mobile home parks that are for sale but haven’t been listed publicly. The site also has foreclosed property listings and bank-owned real estate. To find a property on MobileHomeParkStore, use the advanced search. You can search by location, price range, number of lots, and whether it’s an all-ages or 55-plus park.
Five Great States To Buy A Mobile Home Park In And Why
They're really not that tenant friendly. Pretty much you can evict people. You don't have to wait a year or two like you do in California. We have a park in Kentucky, Louisville. Other observations on Kentucky, lots of rural parts, and that is why there's so many parsing Kentucky yet you don't hear about it much. California, when it comes to cap rates, is an area where you typically do not find things hardly ever in two digits and it's hard to find things even in the high single digits.
Cap rates in Alaska, kind of a mystery to me. I believe they're a little on the lower side, but I don't know. Not a lot of people invest in Alaska that I know, so I don't know a lot about it. Cap rates north of Canada tend to be lower, simply because parks do so very well there.
Add to that the benefit of a great beach town destination, Myrtle Beach. The data we show is a percentage of mobile homes among all dwellings. So, states like Maine, North Dakota and Delaware may have higher percentages, but they have a much smaller total number of residential dwellings compared with the other states. Top 8 states for mobile homes are New Mexico, South Carolina, West Virginia, Alabama, North Carolina, Arizona, Florida, and Texas. However, you don’t have to limit yourself to those states.
The best dealers can also help you find land, navigate the permitting process, arrange financing, and coordinate delivery and site setup. Brian Carmody is a writer and president of a manufacturing company who specializes in commercial lending, investing, and business loans. Brian is also an expert in home ownership, business essentials, and small businesses.
So, if you're not right in the city limits in Louisiana, you're often looking at private utilities, which can be a turn off to some buyers. So, you might check in to that as well. No, you don't hear much about New Hampshire laws as being a problem.
One unique aspect is that it has an attached family room and bedroom room off to one side of the house. This layout will appeal to some people, yet others may not like having those two rooms separated from the others. Clayton began in 1956 with a mission to help more families realize the dream of buying a home.
This is Florida living we’re talking about! A 90-minute drive in the opposite direction will take you to Vero Beach, a gorgeous setting right on the Atlantic Ocean. Coming in third for most mobile housing units, West Virginia is perfect for anyone looking for outdoor adventure. Known for its white water rafting tours, West Virginia features incredible outdoor sights like the Potomac Highlands, the Mid-Ohio Valley, and of course, the Appalachian Mountains.
It also has a lot of low cap rates. You have the ability to exit and refi, also at low cap rates. Utah is just enough west that there is kind of a cap rate compression that occurs as you reach towards California. And you'll find the appraisals will typically support your purchase price in Utah. People who desire functionality and quaintness turn to the Rivers Edge home plan. This is one of the best manufactured homes for individuals looking for a starter home or for couples and retirees who want to downsize.
People ask me all the time, "Why are all these tires on the roofs in Wyoming?" It's because the wind blows incessantly, and those tires keep the roofs from shaking. And tires apparently are the best counter weights to the effects of the wind, so that's why people use them. 35th position, South Dakota, with 343 mobile home parks.
Number one, it's very hard to overcome the land value. Another thing we'll find in California, some very, very old parks. The industry basically began in some ways in California, the movie, the long trailer that was based in California in Nineteen 51 with Lucy and Ricky. California has a history with the industry that way, way back.
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