What Is The Opportunity With Workforce Housing?

- Americans need affordable housing today more than ever.
- The demand for affordable housing exceeds supply and this trend should accelerate of the next 20 years with 10,000 baby boomers retiring every day.
- HUD believes that an estimated 12 million renter and homeowner households now pay more than 50% of their annual incomes for housing, and a family with one full-time worker earning minimum wage cannot afford the local market rent for a 2Br apartment in the US.
- With a growing population, a high immigration rate, increased traditional mortgage costs, and a struggling economy, there is a tremendous opportunity for manufactured housing to be a viable workforce housing option. The average household income for approximately 29% of the population in Florida earn under $20,000.
- The demand for workforce housing exceeds supply and this trend should accelerate over the next 20 years with 10,000 people entering the workforce everyday.
- There is no other housing option where a resident can own a home for a payment around $1300 per month, like a mobile home in a mobile home park.
- Mobile Homes are expensive to move which leads to long term tenants and fewer turnovers.
- The supply and competition of newly developed mobile home parks is almost non-existent.
- This investment is focused on cash flow and appreciation.
- With most of the properties we look to acquire, they have below market rents, which allows us to raise rents 5-10% annually.
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