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Investing in Manufactured Housing

Building Wealth Together

Modern Neighborhood

Advantages of MH

High Stability. High Growth.


Simplified Management

Manufactured housing communities are residential subdivisions. Investors own the land and property infrastrature (streets, utility connections and common areas) and lease the land to homeowners. This keeps ongoing expenditures low and management simple.


Fragmented Industry

Combined, the largest public owners in the manufactured housing industry own less than 3% of the 50,000 communities in the United States. The operators that can consolidate communities quickly will benefit from unique economies of scale.


Stable Tenancy

Costs range from $5,000 to $10,000 for a resident to reinstall a home into a different community. Most "mobile" homes never move once set. Manufactured housing communities average 10-15% annual turnover compared to the 45-55% seen in the multi-family industry. 


Excellent Risk-Adjusted Returns

Stabilized operating expenses are in the 30-35% range for manufactured housing compared to 50% in the multi-family housing industry. We also find that upon acquisition, average lot prices are systemically below market by an average of 50%.


Nationally there is a shortage of more than 7M affordable homes for our nations 10.8M+ extremely low-income families (NLIHC).


There is no state or county where a renter working full-time at minimum wage can afford a two-bedroom apartment (NLIHC).


Seventy percent of all extremely low-income families are paying more than half their income on rent (NLIHC).

Need for Affordability

Children's Playground

Manufactured Housing Affordability

Due to efficiency in manufacturing, mobile homes are significantly more affordable than site-built homes. Suprisingly, in many markets they are also more affordable than renting a 1- or 2-bedroom apartment. Beyond affordability, manufactured homes provide homeownership where otherwise unattainable and provide residents "their own four walls" (55+ MH resident). 


The average cost of a new site-built home without lot cost in America (2022).


The average cost of a set new manufactured home without lot rent in a Saratoga Group community (2023).

Commonly Asked Questions

Though we are not tax or legal advisors, our investors often have questions regarding the process of investing and the unique tax benefits of MH investments. This information does not contain official tax or legal advice but rather, provides an introduction to a few terms common in our space. We advise all investors to seek tax and legal advice from their personal tax and legal consultants.

Financial Vehicles & Benefits


Exchange Vehicle

As designated by Section 1031 of the United States Internal Revenue Code, taxpayers can defer capital gains tax by transferring funds from one "like-kind investment to another." Many of our investors use this vehicle to defer the tax on gains made from a prior investment. Investors recieve TIC ownership in one of our properties for the first two years before transfering this owernship to shares in the property's fund. 


Qualified Opportunity Fund

Some of our properties fall into Opportunity Zones and from these we create Qualified Opportunity Funds (QOFs) for our investors. These provide investors with unique benefits. First, they allow for the deferral of capital gains taxes for a few years (see current legislation for the next deadline). Second, they forgive taxes on capital gains earned in our QOFs if the investment is held for 10 or more years. 

Bonus Depreciation

And how this applies

All of our funds provide some bonus depreciation benefit to investors during the first year of operation. The properties not in Opportunity Zones can provide up to 100% bonus depreciation in the first year. Properties in Opportunity Zones frequently provide around 55-60% bonus depreciation in the first year.

European Waterfall

Distribution Model

The European model considers the performance of all properties in aggregate and distributes to investors by total fund performance. We follow a European waterfall approach to reduce risk to investors. This allows our distributions to be consistent across the board regardless of where a specific property falls in the improvement cycle. 

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