Brokerage
Why All the Hype Over the Manufactured Housing Asset Class? Manufactured Housing Community Cap Rates Explained by James Cook
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As an 18-year-old, newly licensed real estate agent, I stumbled across the manufactured housing asset class. Like most agents, I started in residential but quickly realized that it wasn’t nearly as rational or logical as I wished. On the other hand, I was very attracted to income-producing real estate investments and analyzing returns. When I started prospecting commercial real estate owners, I came across an owner with a small portfolio of single-family rentals and a mobile home park. At the time, he was considering selling the park and moving out of Florida, so I started analyzing his property. My broker at the time, who had influenced me to get into real estate, was handling mostly local deals, but also had experience as a developer. As soon as he saw the mobile home park designation, he immediately started trying to run change of use scenarios to multi-family. The curiosity in me forced me to » MHINSIDER.COM | 63
