Has anyone ever looked into owning a mobile home park? I have been approached by an old friend (property manager and owner of 200+ single family rental homes) to invest a pretty sizeable amount (1.5 million) in a mobile home park that recently came up for sale. I would be 1/3 owner of the park.
After my wife began researching this business, she brought up the point that prices on lot rentals are routinely raised knowing that tenants "cannot afford" to move their mobile home and insisted that it is kind of "exploitive". I am more of the belief system that in America economic class is purely a lifestyle choice and greed doesn't really exist so from my perspective it doesn't bother me at all. This was definitely not a romantic conversation to have last night on Valentines Day.
Has anyone dealt with so called moral implications of investing? Any special considerations for mobile home parks?
After my wife began researching this business, she brought up the point that prices on lot rentals are routinely raised knowing that tenants "cannot afford" to move their mobile home and insisted that it is kind of "exploitive". I am more of the belief system that in America economic class is purely a lifestyle choice and greed doesn't really exist so from my perspective it doesn't bother me at all. This was definitely not a romantic conversation to have last night on Valentines Day.
Has anyone dealt with so called moral implications of investing? Any special considerations for mobile home parks?