Considering buying and running a mobile home park? Perhaps you have worked as a housing provider for years, starting your own company buying properties and apartment buildings.
You’re now wondering if it’s worth buying a mobile home park, as well, and the first thing you need to figure out is what the potential is for people to buy or rent these homes.
Mobile homes offer affordable housing
Mobile home parks solve a very crucial problem by offering affordable housing options to those who still want the freedom of living in a home — not an apartment — but who are looking for an economical way to do it. Statistics indicate that roughly 17.7 million people in the United States call these structures home. That’s around 5.6% of the entire population.
As you’re considering this in California, you’re in a perfect position. While those 17.7 million people are spread out all over the country, the southwest has a high percentage on its own. High living costs in much of California also play a role. Many people are searching for a smarter, more cost-effective way to live. This could be their solution, so you know you’re always going to have people considering your business.
Make good decisions by learning as much as you can about your options
Learning about your potential customer base in a mobile home park is just the first step as a business professional. You also need to know as much as you can about the legal process of buying a park, setting it up under your business, and running it in accordance with local regulations. An experienced law firm can help answer any questions you have.