It is nice. But it wasn’t magic.
The purchase price didn’t include the $300,000 in capital improvements we invested. Nor does it reflect the 45 dumpsters of garbage we hauled away to make the property habitable. And during COVID, when half the residents stopped paying rent, the “value” of the park became purely theoretical — because no one would have bought it in that condition.
We’re proud of what this community has become. But achieving returns like this requires risk, capital, patience, and a lot of work.
Manufactured housing deserves investors and operators who understand that value isn’t just bought — it’s built.