California - Posted by JimC

Real Estate Investing Mobile Homes & Mobile Home Parks
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Posted by pinheadlarry on May 03, 2006 at 13:49:13:

I don’t know about California, but Nevada requires a dealership license that costs $2,000 and you have to take a test to buy and sell mobile homes . :frowning:

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California - Posted by JimC

Posted by JimC on May 02, 2006 at 14:40:37:

Or as our Governor say ?Caalliffornnia?

I currently own my own business, ordered the book ?Lonnie?s?, have a few bucks to invest and I?m willing to spend the time?so I?m not afraid of working hard (actually I really enjoy it).

Does this work in California???

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Re: California - Posted by Joe

Posted by Joe on May 02, 2006 at 16:04:54:

I don’t know. Around the south Bay area, mobile homes easily go for over $100k. Yet you can buy a mobile home for $10k out of state, move it in for a couple $k, and get the same thing. The value of the real property just isn’t there, it’s not like mobile homes in Cal are better quality than those in the midwest, so something is wrong.

My thinking is that around here, you aren’t buying the mobile home. Instead, you are buying the right to rent the lot from the park. Sort of like those people in the cities that will pay thousands of $$$ to take over someone’s lease when they are moving out. They aren’t getting valuable real property for their money, but they are buying paperwork (the lease).

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Re: California - Posted by Jason

Posted by Jason on May 03, 2006 at 09:49:40:

Thanks?.Nevada and Oregon are just a few hours away. There seems to be opportunities there. Is it possible (and do you recommend) long distance ownership?

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Re: California - Posted by Bob Smith

Posted by Bob Smith on May 02, 2006 at 22:56:03:

In the Bay Area, there’s no land available for new parks, and if there were you wouldn’t build a park on it because (a) impact and developer fees make it unprofitable and (b) municipalities won’t approve them because tax revenues from houses are so much greater. Impact and developer fees levied by the city and county exceed $100k per house, one of the reasons housing is so expensive there. When I lived there I found no parks with any vacancies (owing to no new supply in decades), so moving in an inexpensive out of state mobile was out of the question, and all of them had rents exceeding $1k/month.