In this blog we’d like to teach you a little bit about Park Model mobile homes. And while they’re not our typical bread and butter investment we’ve still made money on these tiny homes.
We want to tell you what these homes exactly are and why they can be good investments in the right market.
What Are Park Model Homes?
Well they can be a little bit deceiving. They look just like single-wide manufactured homes, but they’re a bit tinier. They’re usually no more than 12 feet in length and 36 feet long. They’re built for recreational and camping purposes. And they’re registered just like RVs, but they look like manufactured homes.
And these homes aren’t subject to the same HUD safety standards and inspections like manufactured homes. These things fall under the Recreation Vehicle Industry Association safety standards and inspections.
And a lot of park owners actually use these homes to fill vacancies because they are a cheaper alternative method than manufactured homes.
Who Wants Park Model Homes?
Typically, in our market, we see seniors, couples without children, and single individuals living in these homes. These homes can be found usually in a warmer climate and even retirement areas.
They’re for people that want that minimalistic lifestyle, less size, less mess and less to worry about. And with that tiny home craze, there’s a lot of people wanting to live in these types of homes.
When do we consider Park Model Homes
A BAD investment?
We typically don’t invest in park model mobile homes when they’re located in family parks, because families want space. And one bedrooms typically don’t give them the space they’re looking for. We also consider them bad investments when they have metal siding because they’re just not as appealing to our clients.
When these homes need a lot of repairs – we’re talking about the major repair items – we typically stay away from them. And especially if they’re in under 4 star park communities – we’re talking 1, 2 and 3 star park communities. Whenever they’re in those types of communities, we usually fall back.
When do we consider Park Model Homes
A GOOD investment?
We usually see these investments as good when they’re in retirement areas, retirement states. We’re talking states like Arizona, Florida, California etc. You’re going to see a lot of 55+ mobile home parks and a lot of 55+ mobile home parks/resorts where they have an abundance of these types of deals and opportunities.
We’re also looking for 4 star and up communities because we know our buyers are going to be there in those retirement areas, looking for nice parks that they can park their families in.
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