I thought I would direct this question to Ray Alcorn specifically, since he lives in Virginia. But any helpful replies would be appreciated.
Ray, I live in the Richmond area, and it seems as if there are NEVER parks for sale within 200 miles of here; at least in any remotely desirable area of Virginia with less than 25% unemployment, or that don’t have asking prices that a hedge fund would balk at.
Looking at the various listings on the internet, it seems other states (Texas and Florida, in particular) have plenty of listings for those great turnaround plays that I read about on this website (35 spaces, located 5 minutes from my house, below market rents, etc…)
Any that do come on the market get snapped up immediately, because MHP are fantastic investments (which leads me to wonder how the people writing these stories about finding great deals with burned-out owners who offer great owner-financing and 21% CAP are locating these properties).
And of course there is always the temptation to just build a new one…