We are all here because we think outside the box. However sometimes we want to own the box or the plant that made it.
Little background, my wife and I purchase/ manage a mobile home parks through our MHP equity fund, as well as operate a manufactured home dealership. Thus enabling both our companies to feed off of each other as new homes are needed to fill vacant home pads or replace older inventory
Currently we are in the final stages of launching a debt fun for financing the sales of manufactured homes in our communities through our dealership. This will allow us to have 3 of 4 the main pillars of our industry under one roof.
The last remaining pillar of the MHP sector is Manufactured Home Insurance. Insurance on the home and not the property. Through our 10+ years in investing in both MHP's and MH's, there have only had 2 minor claims on MH's. It has become apparent there is an extremely large low hanging fruit, like James and the Giant peach large, in MH insurance. There would be minimum liability and effort as we would only underwrite homes within our held portfolio. Worst case a home needs to be replaced, we can easily cover the purchase of a likewise home as the home values are pretty inexpensive.
I know from contacts in the used auto resell market that run this model. They sell and finance their own auto inventory through the dealership and the purchasing customers use the dealerships insurance coverage during the duration of the auto loan.
Does anyone have any resources or information to point me in the right direction for this project? Appreciate any feedback
Little background, my wife and I purchase/ manage a mobile home parks through our MHP equity fund, as well as operate a manufactured home dealership. Thus enabling both our companies to feed off of each other as new homes are needed to fill vacant home pads or replace older inventory
Currently we are in the final stages of launching a debt fun for financing the sales of manufactured homes in our communities through our dealership. This will allow us to have 3 of 4 the main pillars of our industry under one roof.
The last remaining pillar of the MHP sector is Manufactured Home Insurance. Insurance on the home and not the property. Through our 10+ years in investing in both MHP's and MH's, there have only had 2 minor claims on MH's. It has become apparent there is an extremely large low hanging fruit, like James and the Giant peach large, in MH insurance. There would be minimum liability and effort as we would only underwrite homes within our held portfolio. Worst case a home needs to be replaced, we can easily cover the purchase of a likewise home as the home values are pretty inexpensive.
I know from contacts in the used auto resell market that run this model. They sell and finance their own auto inventory through the dealership and the purchasing customers use the dealerships insurance coverage during the duration of the auto loan.
Does anyone have any resources or information to point me in the right direction for this project? Appreciate any feedback
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