Last week we highlighted an article about tenants in a North Dakota park receiving $400 lot rent increases. We also included a link to an article involving a similar rent increase in a WV park (link here). If you had to guess which one would cause an uproar, which park would it be? We’ve always felt like Forrest Gump and those damn chocolates anytime we buy a park. You just don’t know until your name is on the deed. Well for those keeping score at home, it was the WV park that created the local firestorm. You can read about it here, here, and here, and here.

As always, we’re not here to judge, but damn, please don’t ruin it for the rest of us.

Enjoy!

What We Are Reading

The Goods - Manufactured Housing

At This Alexandria Community, The Challenges Of Mobile Home Ownership Are Thrown Into Sharp Relief

When Amilcar Benitez bought a mobile home at Harmony Place in Alexandria, it needed a lot of work. The flooring, insulation and plumbing in the two-bedroom home he shares with his wife and two children were damaged, prompting Benitez to invest late-night hours — and money — into home improvements. Since making the purchase in 2015, he’s put about as much cash into the property as he did to buy it, some $24,000.

The Complete Guide to Investing in Mobile Home Parks

Mobile home parks aren't usually the first asset class that comes to mind when discussing real estate investing. Most potential investors think Of commercial real estate buildings, single-family homes, or multi-family properties when discussing the best real estate investments. These investments are safe and tend to generate consistent cash flow for investors.

FAA, Vero Beach mobile home park tiff shows Ronald Reagan had it right | Opinion

Children play in the streets of Citrus Park Village after coming home from school on Tuesday, Oct. 4, 2022. Not only are the residents invested in the quiet neighborhood they love, the community has also provided an affordable place to live for around 70 years and for many of the owners, the only option to survive in today's economy.

Ventura mobile home ordinance upsets residents as certain cost increases go unchallenged

Controversy over how rent increases are determined for Ventura mobile home owners took center stage at a City Council meeting on Monday.

Some residents of mobile home parks are upset they can't challenge costs of capital improvements that could increase their rent.

General Real Estate News

• Real-Estate Companies Grapple With High Interest Rate Hedging Costs. (Link)

• David Rubenstein-Backed Firm Raises Fund To Target U.S. Industrial, Multifamily. (Link)

• Traffic Down At Grocery-Anchored Centers As Inflation Changes Shopping Patterns. (Link)

• Office Values Have Further To Fall Before Residential Conversions Start Picking Up Speed. (Link)

It’s the Economy, Stupid

• Retirees Catch a Break With the Social Security COLA. (Link)

Regulatory and Affordability

• At $600 a month, these units offered a haven to California's unhoused. Now, residents are being displaced. (Link)

• Exclusive: A plan for getting housing wealth to renters. (Link)

• Study makes case for investing in cheaper housing as Austin group buys more apartments for moderate-income rentals. (Link)

Public Markets Corner

Manufactured Housing Properties Inc. Refinances 42 Communities With Fnma and Adds Three Communities to Its Portfolio

Today, Oct. 10, 2022, Manufactured Housing Properties Inc. (OTC: MHPC) announces the refinancing of 42 communities with Fannie Mae (“FNMA”) through KeyBank, Inc., as well as the addition of three communities to its portfolio.

UMH Properties, Inc. reports on the impact of Hurricane Ian

UMH Properties, Inc. (NYSE:UMH) reported today, Oct. 10, 2022, on the impact of Hurricane Ian on its manufactured housing community, owned through its joint venture with Nuveen Real Estate, located in Sebring, Florida.

Recent Acquisitions

SOLD! Congratulations to Matthew Skinner for the successful sale of this 3-star community in Desert Hot Springs, CA.

The Engle & Angelov Group closed on four manufactured housing communities located throughout central Wisconsin, 193 spaces.

Just sold! The NorthMarq MHC Team closed on the Buena Vista Estates in Mobile City, Texas located just outside of Dallas.

SOLD! Congratulations to Tanner Westerheid & Jeff Flynn for the sale of Huron River MHP in Michigan.

Just Closed! | 400+ Space MHC.

Video Gallery

FAA says mobile home residents must move or Vero Beach will lose airport funding | Watch Video ▶

Bangor to consider tiny home developments | Watch Video ▶

Nonprofit 'Patriot Emergency Response Team' providing aid to Lee County communities | Watch Video ▶

Los Altos moves forward with first 100% affordable housing development | Watch Video ▶

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Sponsored By —

Elevation Capital Group, and its affiliates, (“Elevation”) focuses exclusively on two niche property types: Mobile Home Communities and Self Storage Facilities. Elevation, through its affiliates, has acquired properties worth more than $600 million and has owned more than 200 properties across more than 30 states. To learn more about Elevation and their current investment offering, click here.

Contact us at [email protected] for sponsorship inquiries.