Re: Buying Mobile Home Park - Posted by Tony-VA/NC
Posted by Tony-VA/NC on September 05, 2003 at 07:13:22:
Greg has some good thoughts on the septic problems.
A question that came to my mind was the age of the park and the size of the older homes. Can these homes be replaced by the larger, modern homes? Many times these older parks have limited lot space that simply cannot accomodate a 14x70 or larger home. This can seriously limit your income potential as well as your growth potential.
Older homes that are of reasonable size may well be repaired but they may be a challenge to market if they are too small for the needs of today’s buyers or renters.
I am not saying you shouldn’t pursue this park purchase, just food for thought.