Achieve Your Goal Of Sustainable Passive Income For Generations
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Mike Orr Real Estate pairs mobile home park and multifamily investors with properties that will help them build wealth that will continue to grow for years to come
 

 Mike Orr is a real estate broker focusing on manufactured housing communities and multifamily assets. Mike provides buyer and seller representation, property analysis and broker opinion of value.

 

About Mike Orr

Mike Orr Real Estate focuses on brokering manufactured housing communities and multifamily assets. Mike leverages his years in banking along with his proactive approach to sourcing off market properties to create long term wealth for his clients. Mike’s persistent approach to sourcing off market properties has resulted in over $100,000,000 in closed sales.

 How We Help You

  • Mike will go through your investment experience and your operational background to identify a property that meets your expectations and provides the highest probability for success.

  • Mike will work through the numbers with you step-by-step and help you to arrive at a price that meets your expectations and aligns with the current market environment.

Why Mobile Home Parks?

  • Affordable Housing Solution

    20% of Americans earn less than $20,000 per year and lack of affordable housing is a major problem. Mobile Home Parks offer a solution.

  • Decreasing Supply, Increasing Demand

    As the need for affordable housing increases, the supply of mobile home parks is decreasing. There are approximately 44,000 mobile home parks with at least 4 units in the United States, and every year about 1% of those mobile home parks are converted into other developments.

  • Recession Resistant

    In the event of a recession, higher end apartments and single family homes are more likely to feel the impact, whereas lower-priced homes such as mobile homes should remain flat or potentially even increase due to increased demand.

  • Stable, Predictable Expenses

    Maintenance costs for mobile home parks are approximately 5% of revenue. This is because tenants who own their own homes assume responsibility for maintenance and repairs of their homes along with managing their own utility payments.

  • Low Tenant Turnover

    Many residents own their own homes, and the cost of moving their home can be expensive ($5k-$10k), so tenant turnover tends to be low.

  • NOI Growth

    Value-add through in-fill, bringing up to date deferred maintenance, implementing automated and energy efficient processes, rent increases and improving the overall living environment are all factors that can significantly increase NOI.

  • High Barrier to Entry

    The data analysis and underwriting process for mobile home parks is time-intensive, creating a low competition environment for investors.

  • Mom and Pop Ownership

    Of the approximately 44,000 mobile home parks in the United States, roughly 40,000 are run by mom and pop ownership. Many of these owners aren’t keeping up with quality maintenance of the living environments, providing plenty of opportunity for improvement.

Get Started

Take It From Our Clients…

  • "Mike brought a buyer for our property and worked diligently to get it to close"

    Mike brought a buyer for our property and worked diligently to get it to close. He responded to calls, emails and text in a very timely manner and got the answers to both buyer and seller as they came up. I was impressed that he followed up on all the issues that came up and he has a good knowledge of the manufactured home industry. The transaction closed on time without any delays.

    John Scharlau | Pleasant Valley Properties

  • “It is rare these days to find a local broker that knows how to get to the finish line”

    It is rare these days to find a local broker that knows how to get to the finish line. Mike Orr is one of those brokers. I was very impressed by his market knowledge and his ability to work through tough negotiations, while still maintaining a positive attitude and a proactive approach. I would recommend Mike to anyone in the Mobile Home Park space. He is a solid broker that I would love to do more deals with any time.

    Glenn Esterson | Marcus & Millichap

  • “[Mike’s] market knowledge is among the best of anyone I have worked with”

    Mike has proven to be a great strategic partner for us and has helped us close on several parks in the Midwest. His market knowledge is among the best of anyone I have worked with and if he doesn't know an answer, he'll dig in and find the answer! His banking experience, market knowledge, intuition and ability to listen to what we are looking for has helped him send deals our way that we wouldn't have found otherwise. Highly recommend his services.

    Rudy Curtler | Sawgrass Capital Partners

  • “Mike’s knowledge of, and relationships in, the mobile home park industry are extensive”

    We contacted Mike to assist us in acquiring mobile homes parks. We acquired a value add park in a strong metro, which Mike identified, brought to us off market, and also assisted us with obtaining financing from a local community bank. Mike’s knowledge of, and relationships in, the mobile home park industry are extensive and we hope to work with Mike on many more transactions.

    Vijay Malek | Easy Living Communities