The next mobile frontier: Trailer parks lure white-collar types seeking double-wide profits
When Dan Weissman worked at Goldman Sachs and, later, at a hedge fund, he didn’t have to worry about methamphetamine addicts chasing his employees with metal pipes. Or SWAT teams barging into his workplace looking for arsonists.
Both things have happened since he left Wall Street and bought five mobile-home parks: four in Texas and one in Indiana. Yet he says he’s never been so relaxed in his life.
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“The greatest part of the business is that we go to sleep at night not ever worrying about demand for our product,” Weissman, 34, says. “It’s the best decision I’ve ever made.”
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The economics of mobile homes are particularly alluring to folks who’ve made their living in the markets. Many U.S. counties have banned or discouraged construction of new trailer parks, because the inhabitants are poor, pay little in taxes and drain resources. Yet demand is higher than ever, new investors in the parks say, because so many people never got back on their feet after the recession.
http://www.washingtonpost.com/business/the-next-mobile-frontier-trailer-parks-lure-white-collar-types-seeking-double-wide-profits/2014/05/08/b58f2df2-cee1-11e3-937f-d3026234b51c_story.html
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