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We have been investing in Mobile Home Parks for the past 10 years and love it. However Covid created a market that we needed to adjust our investment model. In 2021 we started purchasing more manufactured homes in our communities to then sell to our customers. This is fairly normal in our field, but it is usually best to do short term (5yrs or less) on only used homes. This strategy is basically to fill a vacant lot and get out fast as possible. During covid we decided to extend our loan terms to 10-20 yrs in order to lower payment on our tenants to help with tenant retention and not suffocate our ability to increase lot rent (main source to increase property market value). We then only used cashflow to reinvest purchasing additional homes.

Fast forward to today and we have an extensive portfolio of homes across different communities in different holdings/states. The note payments, interest, and created equity now produce much better returns than most 100+ pad parks with minimum effort. Hence why we have now created a fund for our new MH Lending company to work alongside with a national servicing company. Though its a home, the MH's are personal property, so this is technically chattel lending. We then therefore own all the verticals: community, management, homes sales, and home financing.

The one cavoite now is MH insurance. We are going to self insure as majority of companies are jumping ship for MH insurance, especially within 100 miles of the coast. Out of our 10+ years and tens of hundreds of units managed/sold we have only 1 home that needed a large insurance claim (aka > $5k). With a new home only costing less then $60K delivered we know the returns way out weigh the risk. Also, we are looking to hold it FL but have its accounts off shore where we can then lend access funds to our lending company or acquisition company with very little tax's and exposure.

Do you have any experience with setting up an insurance company? Do you have any recommended recourses? Thoughts?

Never thought I would dive into the realm of mortgages and insurance, but here we are.
I really appreciate your help.
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