Mobile homes often get a bad rap—but it’s time to change that. In this episode, Connie and Lottie Michael share their experience in manufactured home communities and reveal why they might just be the best-kept secret in affordable homeownership.

Understanding Mobile Home Communities

· When most people hear “mobile home park,” they picture something temporary or run-down—but that couldn’t be further from the truth. Lottie explains that these parks are actually vibrant, family-centered communities where residents own their homes and enjoy the perks of homeownership at an affordable price.

· Unlike the condominium-style setups often found outside Alaska, local mobile home parks here are owned by the park owner, while residents own their individual homes.

· That means they get to enjoy their own yards, keep pets, and create lasting neighborhood traditions.

· Over the years, many parks have developed strong, close-knit cultures—everything from holiday gift exchanges to scholarship programs for local kids. These are communities where people know their neighbors, look out for one another, and stay for the long haul.

Investment Potential and Business Models

· Mobile home parks aren’t just about affordable living—they’re also one of the most reliable, long-term investments in real estate. Some parks are made up entirely of owner-occupied homes, while others, like a few in Anchorage, follow a rental model where the park owns each unit—much like an apartment complex.

· As we discuss, success in this business comes down to balance. When owners are hands-on and realistic

about risk versus reward, mobile home communities can offer steady, dependable

returns for decades.

Financing and Turnover in Mobile Home Parks

· Financing has changed a lot over the years. Residents today have options—from signature loans and private financing to simple cash purchases. Lottie shares some fascinating context about Alaska’s housing boom-and-bust cycles, including a time when mobile homes were demolished at a rapid pace.

· But things are very different now. Today’s parks have low turnover rates, with many families staying for years—even generations. For many Alaskans, that mobile home is their dream home, a stable and affordable way to put down roots.

RV Parks vs. Mobile Home Communities

· We took the time to clear up one common confusion: mobile home parks are not the same as RV parks. While RV parks cater to short-term visitors and travelers, mobile home communities are designed for permanent living.

· Lottie knows this world inside and out—she’s Alaska’s largest RV park owner! Through her experience, we explore how these two types of properties differ in purpose, business model, and community life.

“You have to decide whether the risk is worth the reward. Every investment comes with its own level of return, so it’s all about weighing the two—how much risk are you really willing to take for that potential payoff?” - Lottie Michael.

Timestamps

● 00:00 ● Introduction

● 01:01 ● What is a Mobile Home Park?

● 03:33 ● Investment Insights into Mobile Home Parks

● 07:02 ● Financing and Ownership in Manufactured Communities

● 10:30 ● Differences Between RV Parks and Mobile Home Communities

● 14:51 ● Closing Thoughts and Next Episode Preview

Sponsorship Offers

1. This episode is brought to you in part by Berkshire Hathaway Alaska. - https://www.bhhsalaska.com/

Credits

Music by SoundStripe and Produced by bluëmango | STUDIOS.

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