MHP Tribe, with MHP standing for mobile home parks, is a community for MHP investors and/or aspiring ones. Or in their own words, they’re for “busy professionals focused on partnerships and efficient business solutions for financial freedom through MHP investing.” They have workshops, virtual meetups, weekly calls, and various resources suitable for your MHP investment needs. Wanna know more about the said community? Scroll to my review below.NEXT: Compare This To MHP Investing
First of all, what even is MHP? I believe that’s what a lot of y’all initially thought after hearing it. Which is understandable because I consider this myself as an under-the-radar real estate investment. Like, there’s less chance you’ll hear about it out of the blue compared to the likes of wholesaling and multifamily investment.
Simply put, think of MHP investment as renting out spaces to trailer owners. Specifically, those who treat their trailers more of a home rather than just an RV. Again, it’s a mobile home park, not just a trailer park. So, yeah, having a land with enough space for two or more mobile homes is already considered an MHP investment.
Here, your tenants can move their trailers— reason why it’s called a mobile home after all— but that doesn’t mean they will. Why not? Well, moving it from one point to another costs money… Lots of them, actually. We’re talking about $5k more or less. In other words, it’s not economical to be on the move frequently, so you’ll expect your MH-owning tenants to be in your lot for the long term.
You can take the investment up a notch by also investing in building the mobile homes itself. Which means you take full ownership on the land and all the mobile homes innit. In hindsight, it’s like multifamily investment, but with properties that are not considered as conventional apartments. Since the rent in MHP is usually more affordable than the usual, peeps on a tight budget would likely find this setup appealing.
In both cases, you’re the one responsible to take care of the amenities, roadways, utilities, and the likes. Just like in traditional real estate, you still gotta make your MHP desirable to live in, or at least, offer competitive rent fees, unless you wanna build a ghost town or sum. Obviously, you need tenants in order to make residual money here.
Here’s where MHP Tribe comes in handy. They’ll provide various resources [those I already enumerate above] about MHP investments. According to MHP Tribe’s founder Ekaterina Stepanova, the weekly calls here usually follow a relevant, timely theme.
Like, for instance, in the first quarter of 2021, the theme is turnaround projects. It’s like that since they’ve spent a whole third quarter last year evaluating parks, studying case studies after case studies back and forth to look at every possible angle. Then, in another quarter, they focused on due diligence. Due diligence on private utilities, due diligence on finance, and all that stuff.
Crowdsource knowledge, that’s how MHP Tribe rolls in terms of sharing info. Which is why, besides following a theme, they also feature different speakers every month. They always keep it fresh while providing an avenue for investors to connect with others, so they can invest better together.
Signing up on MHP Tribe’s hub that contains the links to the said resources costs zero dollars. That’s right, zero dollars! Even the price of joining MHP Tribe’s private Facebook page is free. Of course, expect hundred, maybe even thousand bucks worth of upsell once you’re in. Although, the possible upsells shouldn’t be a problem if you stick with the free stuff.
If you’re dead set on doing this MHP thang, the weekly calls MHP Tribe put up for free is probably enough to get your feet wet. Issa lot, kinda overwhelming even as they don’t have a course outline to follow AFAIK. Yes, they follow themes, but you’re on your own on finding where to start. The feeling is getting lost in a thick jungle without any map or GPS. Yeaaah….
MHP Tribe is not that bad. The problem is, it’s not that good either. The main reason why I say the latter is because of its business model. Yes, it has advantages over the usual real estate investment like lower cost per unit [but still costly af, I’ll tell you that], lower maintenance cost, and less competition.
But then, it shares similar cons [with the usual real estate investments] plus more that makes it inferior to other businesses. High starting cost, fast depreciation [even faster than normal apartment units], and less financing options makes the opportunity not appealing to me. Not for me, probably not for a lot of y’all too.
