No matter what aspect of the mobile home industry you’re in, keeping an eye on industry trends is important. Maybe you’re looking for a park to purchase. How do you know when and where to invest? If you flip mobile homes, what are your potential buyers looking for in a renovated home? If you’re a dealer, how can you tell if that second-hand mobile home will be a breeze to resell?
Today, we’re sharing some tips, tricks, and resources to help you keep on top of the trends. Tracking the trends will mean you can confidently make decisions on how, when, and where to invest. Using just a few or all of these five ways to track trends, you’ll be making great decisions in no time!
#1 Build your list of connections
One of the best ways to track trends is by word-of-mouth. Your sphere of connections who are “in the know” about real estate and mobile home trends could include real estate agents or brokers.
Keep a list of people you can turn to for top-notch advice, such as older or more experienced investors. Connect with your peers as well. Compare notes with them, bounce ideas off each other, and collaborate when you can. And, maybe most importantly, know who you can turn to who knows the real estate or mobile home trends in the area where you are investing. These people will be invaluable when you’re trying to get an idea of the local market.
If you’re new to the world of mobile home investing, we suggest actively seeking out a mentor. Here at EZ Homes, we value mentorship so much that we created EZ Homes University, a place where you can connect one-on-one with mentors and learn how to navigate the waters of mobile home investing.
#2 Join a Facebook group (or create one)
Yes, there is a plethora of information on the internet. However, articles about real estate trends aren’t a substitute for real-time advice from industry professionals and other investors like you. If you’re on Facebook and looking to use it as a tool to grow your business, one of the best ways to do this is to join a Facebook group. These groups can be a rich source of information on trends. They also provide a chance to learn from others and offer the potential for collaboration.
#3 Browse forums
Similar to Facebook, but without the valuable connections, are other more traditional forums. Some forums can be an even better source of information than Facebook. If you’re looking for in-depth, thorough answers from mobile home professionals, forums are just the ticket.
For information on mobile home investing, mobile home parks, and renovation, check out The Manufactured Housing Forums. And for mobile home culture trends, a good resource is the manufactured homes forum on Houzz.com.
#4 Listen to podcasts
A quick Google search will turn up many podcasts on the mobile home industry. Podcasts are the new radio, and as far as mobile home investors are concerned, that’s a good thing! There is so much to be explored in the mobile home industry, and experts are now sharing their knowledge via these outlets.
A popular and long-running podcast for park investors is The Mobile Home Park Investing Podcast. Another is Mobile Home Park Investors with Jefferson Lilly & Brad Johnson, a podcast about everything from mobile home culture to restoration to investing.
#5 Follow mobile home living blogs
Even though you may not live in a mobile home yourself, it’s important to understand what your tenants or customers are looking for in a mobile home. Keeping up to date with mobile home lifestyle and design trends will make you better able to appeal to potential mobile home dwellers. Following mobile home living blogs is a great way to stay on top of your buyers’ wants and needs.
Our own blog covers both mobile home investing info and mobile home lifestyle info. For instance, here are six ideas for mobile home upgrades that will improve the aesthetic and functionality of a mobile home. We update our blog weekly with tips and tricks that will help you track the trends and make great buying and selling decisions, as well.
Study and gather ideas
Now you have five great ways to keep track of the mobile home industry. We hope these tips have inspired you to dig deeper into mobile home investing and find new ways to grow your business. As you work to educate yourself about mobile home investing, check out these top mobile home investing pitfalls you’ll want to avoid.