Mobile Home Parks aren’t pretty, but they consistently generate more cash flow than many other asset classes. As a result, a lot of newer investors entered the space over the past several years. Unfortunately, many of them have not achieved the results they anticipated because of the arduous nature and complexity of boosting occupancy and managing these properties. Mario Datillo, CEO of Celebrate Communities, has fourteen years’ experience in the Mobile Home Park business and is buying these com

In most markets, multifamily has faced multiple headwinds. Over supply has impacted Class A, B and C properties as renters have sought out lower rents plus concessions. Occupancy has become a challenge, and rents are flattening or contracting. At the same time, insurance costs have doubled or even tripled, and property taxes have doubled in many markets. Concurrently, operating expenses have also skyrocketed. Brian Levredge, President of Pinnacle Asset Management, owns 60’s and 70’s multifamily

To get the maximum return on Multifamily properties, in-house management is a requirement. Third party managers are focused on chasing new and larger clients, while your property is a lesser priority. They also get paid on revenue, so they don’t pay as much attention to managing expenses. Additionally, they move their best employees to properties owned by their larger clients. Todd Dexhierner, partner of Endurus Capital, improved his occupancy 6-7% across his properties, and increased NOI 40% af