The Value-Add Strategy
One structural fact about manufactured housing that doesn't get stated clearly enough: you can't build new supply. Municipalities don't want new mobile home parks. Zoning is restrictive. The communities that exist today are largely the communities that will exist twenty years from now. Infill of existing sites is the value-add opportunity — not ground-up development, not new parks. On this week's episode of the Value Add Strategy podcast, Matt sat down with Keith Meyer Jr. of Skyview Advisors — a broker whose family has been in manufactured housing since the mid-90s, when his grandfather found a community ad in a Cincinnati newspaper and bought it. Keith broke down the market through three lenses: occupancy hovering at 98–99% in reporting communities, rent growth running 2–7% while apartment markets go negative, and a wave of rent control legislation spreading from coastal states that operators need to track carefully. The supply constraint isn't going away. The demand isn't going away. The question is whether you're positioned before the window narrows further.
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