ParkNation is the nation’s premier mobile home park management company. Our vision is to the best managed, most profitable mobile home park management company in the country. Mission INDEV, Inc. was established in 2004 for the purpose of owning and managing real estate assets. The mobile home park market and opportunity was initially discovered in 2007 with the first mobile home park acquisition. Since then we have acquired over a dozen mobile home parks and built a stand-alone mobile home park management service business to manage our own mobile home parks and to provide management services to other owners and investors.
ParkNation Inc., a Texas corporation was officially formed in February 2015. We offer turn-key mobile home park management solutions including:
- Mobile Home Park Management Services
- Community Living
We specialize in managing mobile home parks utilizing the most effective processes, people and culture where integrity and producing results are top priorities.
There are over 50,000 mobile home parks across the nation while only a handful of real estate management service companies who specialize in mobile home parks. This mobile home park market is a $12B market rising to $20B in the next 3 to 5 years. This market is significantly fragmented which offers an opportunity for ParkNation to consolidate and unify while creating cash-flow and wealth.
Mobile home parks are typically owned and operated by mom & pop operators or investors owning one or multiple parks which creates a fragmented sector of real estate. The current model for acquisitions is to target the older “value-added” mobile home parks in densely populated areas or on the outskirts of same where there is a high job demand and ongoing need for low-income housing. New and used manufactured homes provide a low-cost solution for housing while mobile home parks provide a location for workers, families and other moderate income residents to place their manufactured home and live inexpensively.
Dynamic changes and growth in our mobile home park business have created additional opportunities. As the other markets continue to fluctuate, demand for affordable housing is rising, and the mobile home park business stronger than ever. The opportunities include:
o The fragmented market presents the opportunity to consolidate individual mobile home park assets under one entity which creates continuity and provides investment accessibility previously not available.
o The disposition and capacity necessary to successfully manage the mobile home park environment is very limited in the market.
o Financing restrictions and limited inventory are driving families to manufactured housing
o Current market values of lot rentals are undervalued while there is underlying dilemma with the concept of a manufactured mobile home.
ParkNation’s effective management program and extensive knowledge will capture and capitalize on these opportunities.
The strategy for growth is acquisitions and selling management services. The approach for acquisitions is to leverage private investment money along with conventional commercial financing to acquire additional mobile home parks. Management services are sold to mom & pop owner/operators and to investors through a business-to-business sales program.
ParkNation has the ability to expand and manage a large portfolio of parks with limited overhead through the use of proven, effective processes and results driven team. Once the mobile home park is under contract it is integrated into the ParkNation management program. Parks are stabilized and profits maximized and maintained so the park becomes a long-term cash-flow asset. The ParkNation Management Program allows for rapid integration of new parks.
Crucial attributes distinguish ParkNation from other mobile home park solutions:
- Capacity to successfully navigate the mobile home park market
- Experience with all aspects of mobile home park ownership and management
- Keen problem solving ability at critical points
- The tenacity to overcome the most difficult obstacles in a challenging environment
- Ability to create value in an untapped market
- Relationships with brokers, banking and vendors
- Proprietary systems and processes
The magnitude of the mobile home park market across the nation along with the gap in the management service providers offers a tremendous opportunity for ParkNation. The current goal is to capture 7% of this mobile home park market with both acquisitions and management service contracts resulting in providing management services for over 2,700 mobile home parks.
Current financial projections target grossing $80M per year while managing just under $1B in managed assets over the next 10 years. ParkNation expects to grow at 54.8% CAGR in revenue and 81.6% CAGR in operating income over four years.
As the other markets continue to fluctuate, demand for low-income housing is rising and the mobile home park business is stronger than ever. ParkNation is positioned to rapidly expand through acquisitions and providing management solutions. ParkNation goals is to be the best managed and most profitable mobile home park management company in the United States.
ParkNation provides a turn-key mobile home park management solution where success is derived on a performance based philosophy. Thus, profitability is directly proportional to the performance of the mobile home parks and success of owner and investors. ParkNation’s proprietary processes and management program dramatically and significantly increase profitability and property value within a short period of time while striving to minimize negative stigmas associated with this asset class. If you are a mobile home park owner, investor or larger institution and desire to produce high rates of returns and tremendous upside on your investment, the ParkNation family can help you.