I love the mobile home park industry right now, especially because it's hotter than it's ever been before. It's an easy asset class to manage if you do it the right way. 

Remember you’re managing and investing in the property —just adding a little slip and a utility connection.

When you bring your tenants in, you can fix up those facilities, make them nicer usually by landscaping the grounds and adding some amenities. 

Whether it's a barbecue, a playground for the kids, or just making it a little more appealing… these little improvements allow you to raise rents, increases you receive every month from every tenant.. 

And I got to tell you in mobile home park communities, the room to raise rents is unbelievable right now. 

Then you tamp down those expenses by putting those back on the tenant. 

Now the cons… 

Well, they can be big. You only own this slab of concrete with a utility hookup, so you don't have a lot of infrastructure. And if the market softens and cap rates expand, you could be left having overpaid for an asset. 

So, you need to be aware of the current marketplace and what the future can hold. I like this category, but if you don’t know the dangers and really understand it, you need a Mentor who does.