"Live Oak" Manufactured Home Community
Location: About 30 minutes from the beaches of Gulf Shores Alabama.
Park features 50 completed spaces with approval to expand to 70. County Water Direct billed. Septic Sewer
Solutions implemented in the park: We brought in 8 homes and the current residents of these homes are on a path to ownership with a lease/option contract. We also moved other tenant owned homes into the park and paid for the moving and set up expenses. We expect this park will be 100% occupied by summer of 2018.
"Live Oak Pines" Manufactured Home Community
Location: Approximately an hour from Jacksonville, Florida.
Park features 89 spaces with 50 occupied. County Water/Sewer. Billed to park. Park bills the tenants for water
Solutions implemented in the park: We are working with the city to expand the number of legal sites. 12 abandoned homes are being renovated, homes in poor condition are being hauled away. Once above is complete, the owners plan to purchase around 10 homes a year and fill with quality tenants that are seeking a path to ownership.
"Orange City" Manufactured Home Community
Location: park is located approximately an hour north from Orlando, Florida.
Park features: 60 space park with 2 empty spaces. City Water master metered, Septic
Solutions implemented in the park: This was a value-add purchase with rents significantly under market and master metered water. We raised rents to market and are currently installing water meters and will start billing the tenants for water.
Location: Approximately 60 minutes south of Grand Rapids, MI
Park features 52 spaces with 65% occupancy at purchase. All are Tenant Owned Homes.
Solutions implemented in the park: We renovated multiple vacant park owned homes and sold them to new residents. We are currently working on bringing in a few more used homes to further stabilize the park. We ultimately increased the NOI by focusing on increasing occupancy, passing on water, sewer and trash expenses to the residents and have slowly began improving the overall appearance of the park (landscape, cutting and removing dead trees, patching up the roads and tearing down old homes).
Location: Near Naval Air Station Whiting Field in Milton.
Park features 42 spaces with 38 developed and 36 occupied by renters.
general clean up
pressure washing of homes
gravel pads will be repaired/holes filled
"Jackson Mobile Home Park "
Location: 45 minutes west of Ann Arbor, Michigan.
Park features 80 spaces with 38 occupied. City Water/Sewer. Master metered electricity billed back to tenants.
Renovation and infill of 35 Park owned homes
general clean up