F R A N K
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R O L F E
M O B I L E
Mobile Home Investing
H O M E
I N V E S T I N G
COVID Proof . . .
THOUGHTS FROM FRANK ROLFE
The Covid-19 pandemic has ushered in
impact on mobile home park
This huge price variance has made
a new era in American real estate
occupants.
mobile home parks one of the hottest
investment. Overnight, some asset
sectors of real estate. Many mobile
sectors such have plunged in value.
And those that lost their jobs were in
home parks receive over 100 calls per
However, some have been only
the sweet spot for finding employment:
week from Americans seeking places
marginally impacted and one has
minimum wage to $15 per hour labor
they can afford to live on their salaries.
actually become stronger. That special
opportunities. These are exactly the
And this trend is only accelerating.
asset sector is the old-fashioned
type of employees sought out by such
mobile home park. So why have mobile
companies as Amazon and Domino’s
Prior to Covid-19, apartments had
home parks fared well while other
pizza—both of which grew their
strong rents and occupancy. However,
niches of real estate have been
employment basis during the
now the tables have turned on what
crushed by Covid-19?
pandemic. If you look down any street
attributes Americans want in their
in the U.S., you will see the only “Help
housing. Mobile home parks offer
Most residents of mobile home parks
Wanted” signs are for jobs paying $15
things that apartments can’t including:
fall into two categories 1) retired or 2)
per hour and less.
essential jobs. The basic backbone of
No neighbors knocking on your
our country—the jobs that keep the
It’s no shocker that a huge amount of
walls or ceiling
engines running and the food on the
Americans (estimated to be over 30%)
A yard that you can use as an
table—fall upon the employment
are in need of housing they can afford.
outdoor space for yourself, kids or
sector that traditionally has lived in
Indeed “affordable housing” is one of
pets
mobile home parks such as fast food,
the nation’s biggest challenges. While
Parking by your front door and not
auto repair, and shipping. So while the
the national apartment rent averages
an impersonal parking lot
government shut down all “non-
over $1,200 per month, mobile home
A sense of community with
essential” industries at the start of
park lot rents average around $280 per
neighbors who are not transient
Covid-19 back in March, this had little
month.
The ability to be a homeowner
