Pine Water Properties · Buy Box
Roots. Community. Lifestyle.
MHP Communities
We buy manufactured housing communities with strong cash flow and upside.
Where We Buy
PNW + Northern Rockies
Washington, Oregon, Idaho, Montana
Mountain West
Wyoming, Utah, Colorado
South Dakota
South Dakota
Red Sunbelt States
Tennessee, Texas, Florida, Alabama, Georgia, North Carolina, South Carolina, Arkansas, Kansas, Missouri, Oklahoma, Mississippi, Louisiana
PNW + Northern Rockies
Mountain West
South Dakota
Red Sunbelt States
What We're Looking For
- All-ages and 55+ communities
- Stabilized or value-add opportunities
- Occupancy 70%+ preferred
- Strong cash flow or value-add opportunities
- Well-maintained infrastructure or upside potential
- Desirable locations with demand drivers
- Ability to add value through operations, improvements, or expansion
All-Ages
55+ Communities
Infrastructure Upside
Value-Add Opportunities
Deal Structure
- Seller finance
- Creative finance
- Up to 50% down
- Under-managed mom and pop assets
- JV partnerships
- 0% or low-interest seller carry
Financial Targets
- $200K+ NOIPreferred
- 8 – 12%Cap Rate Target for Value-Add Deals
- Stabilized deals considered with upside
Hard No's
×
Priced only on unrealistic pro forma×
No clear cash flow or upside×
No lagoons×
Major utility issues without discount or credit×
Seller wants retail pricing with no termsHave an MHP deal?
We're actively looking. Send us what you've got.
Submit a Deal