For so many years, the United States has been known as the land of opportunity. A place where everybody has an equal chance of achieving anything if an individual puts forth hard work and determination. But in the past few years, the country seems to no longer provide affordable housing to millions of Americans. There is a looming affordable housing crisis in the United States.
A survey revealed that high acquisition cost in owning a house or apartment had left many Americans without a home of their own. A similar study found out that two out of three renters in the country cannot afford to purchase a home. They added that saving money as a down payment will be more difficult in the upcoming years. Then, the pandemic hit the United States, which left many of its citizens without work. The country is called the land of opportunity, but millions of Americans are being denied affordable housing. Also, affordable housing is becoming more and more expensive to construct as the price of materials, and labor costs are increasing.
But as the saying goes, in every crisis lies an opportunity. Entrepreneur Jonathan Tuttle, fund manager of Midwest Park Capital, is well aware of the looming housing crisis. Thus, Midwest Park Capital came up with an idea to address affordable housing. “Probably, it is the right time to look into Mobile Home Parks as an immediate solution to the problem. It is the cheapest form of non-subsidized affordable housing in the United States,” Jonathan described.
Mobile Home Parks Are The Solution
Jonathan said that there is a growing demand for affordable housing in the country. “At present, there are millions of Americans who need affordable housing. Aside from that, an estimated 10,000 Americans who belong to the baby boomer generation retire daily. They need affordable housing, but most of them do not have any significant savings,” he explained.
Jonathan knew the scale of the housing problem and vowed to help in solving it. After some time, he realized that one of the best solutions to the housing crisis is offering Mobile Home Parks. It is the reason why Jonathan co-founded Midwest Park Capital with Christian E. Dukes. They wanted millions of Americans to have access to the most affordable housing in the country. “What we do is we raise capital from accredited investors to purchase Mobile Home parks and make it accessible to most Americans,” he added.
Many might ask why Mobile Home Parks. Jonathan said the mobile home is much cheaper than getting a house or renting an apartment. Mobile Home Parks are the only non-subsidized affordable housing in the country. “It is the cheapest type of real estate that low-wage earners can afford. I observed that Mobile Home Parks are gaining popularity even with middle-class Americans,” he clarified.
Jonathan said that a unit of Mobile Home Parks would only cost an average American about a third of the price of a house or half the price of an apartment. Mobile home residents also pay fewer taxes. In Illinois, in some cases, mobile home residents can pay as little as $10 worth of tax per month.
An Investment Opportunity
Midwest Park Capital is a real estate investment company that provides accredited investors with exclusive access to high yield investment in the mobile home park industry. “We raise capital from accredited investors to buy Mobile Home Parks,” Jonathan said.
Investors must realize that Mobile Home Parks are low risk but high yield investment. “It is a safe investment. Mobile Home Parks have the lowest bank failure rate of all real estate for the past 50 plus years. You can earn better by investing in Mobile Home Parks since their value will remain the same regardless of economic conditions,” Jonathan said.
Many business personalities are anticipating that the next real estate boom will come from Mobile Home Parks. So, many of them are already putting massive investments in the mobile home industry. Berkshire Hathaway made a considerable investment in the mobile home park sector after it bought Clayton Homes. It is the largest producer of mobile homes in the country. Renowned private equity firms, the Carlyle Group and the Blackstone Private Equity also made sizable investments in a mobile home as the two equity firms bought large quantities of mobile home parks in the past few years. Even the government of Singapore invested $2 billion on Mobile Home Parks.
At present, around 20 million Americans are residing in Mobile Home Parks. But Jonathan wants to expand further the role of Mobile Home Parks in providing affordable housing to millions of Americans. Thus, his company is pushing for more Mobile Home Parks in the future to meet the ever-growing demand for low-cost housing. One step at a time, Jonathan is making strides to address the immediate needs of Americans.
Jonathan is encouraging accredited investors to join Midwest Park Capital and take the opportunity to earn by helping others. Rather than complaining about the problem, Jonathan took the chance to become a problem solver. Everybody can be part of the solution by investing in Mobile Home Parks. To learn more about Mobile Home Parks, visit the Midwest Park Capital’s website at https://www.midwestparkcapital.com/.