Estimating Cost Developing a Mobile Home Park - Posted by Ko

Posted by Gary on May 24, 2007 at 21:44:47:

UH,okay Sam, then get with this poster wanting to do the 60 site MHP and walk them through it if you really want to help. You might even get first chance to put some cash in the deal.

Estimating Cost Developing a Mobile Home Park - Posted by Ko

Posted by Ko on May 23, 2007 at 24:22:49:

I am planning to purchase 9-11 acres of land in Bossier City,La and I want to develop this piece of land for 60
mobile homes site/lot. Do you have any idea how much is going to cost me.? Do you know any company in this area that will charge a reasonable price.?

Re: Estimating Cost Developing a Mobile Home Park - Posted by land-o

Posted by land-o on May 27, 2007 at 11:41:32:

I have watched several developers try fill new parks only to be very
disappointed.

one had 4 or 5 doublewides in 54 spacer after 4 years, he finally
turned it into a pud (planned unit development) and sold the lots off
to have foundation set houses with 30 year loans.

If you build a park, make it a mobile home subdivision, that way you
can sell some of the lots

Re: Estimating Cost Developing a Mobile Home Park - Posted by Adam (IN)

Posted by Adam (IN) on May 24, 2007 at 20:50:47:

keeping in mind that i have never actually paid to have a park developed my experience from seeing this topic discussed here and on other sites is that cost range between 7-10K per site to develop

but you also have to include the cost of land onto that, keep in mind that it is very hard to get a new MH park approved as most communities don’t want them, and most importantly buying, setting, fixing up if not new, and selling 60 new homes

new homes will cost you 23-30K set up and good used homes between 7-10K per home but that will take you cosiderably longer than buying bulk new…don’t forget that all of those new homes will have to be bought with YOUR cash and financed BY YOU to the new buyers as there is almost no financing for SW’s in a park now

it may take you 10+ years to get this park built/filled and theres a ton of negative cash flow and likely and ulcer or 2 between now and then

can it be done? ive not heard a single story on here or any other site of anyone building a new community from scratch and it’s likely the reasons above and many more are why

Re: Estimating Cost Developing a Mobile Home Park - Posted by jb (IN)

Posted by jb (IN) on May 24, 2007 at 20:36:00:

When we bought our park, 18 acres of land came with it besides the 7 that had been developed. Plans had already been drawn up for an 80 pad addition, zoning had been approved through everyone (from what I’m told cost about 10k just for that process). We looked into developing the land and we came up with something like 10k per pad in development costs. This was on top of the land we already owned so the land part is not added in.

We haven’t gone any further because we’re still not full and the economy won’t support it at the moment. In 5 years maybe it will be something we’ll consider but 800k without buying the first home to on one is a pretty hefty chunk of change. I know we could do it in sections but just the cost of running a road, water and sewer lines makes it something to be looked into a bit later in the future.

Just my thoughts…never said they were good ones.

John

Re: Estimating Cost Developing a Mobile Home Park - Posted by Gary

Posted by Gary on May 23, 2007 at 22:42:30:

The experts say the cost of creating a home site including land is in the area of $30,000 per x 60 =1,800,000 There are virtually NO new parks being developed due to the inability of prospective residents to obtain conventional financing on a mobile home. Also,there are plenty of first time (stick built)home buyer programs,etc. that steal them away. Now if you have land in a resort area,campgrounds are a feasable way to create multiple streams of income from tenants that as a general rule have some idea how to manage their money.

Why do people continue to ask this same question regarding building a MHP? It has to be the uniformed with no idea of construction costs. Stop it please.

Re: Estimating Cost Developing a Mobile Home Park - Posted by Scott (IN)

Posted by Scott (IN) on May 23, 2007 at 18:21:55:

Is the land zoned for a park? Is there city water and sewer to the lot? If not what kind of septic are you going to use? Will it be approved by the county/city?
Is 60 homes too many for only 10 acres? You bet. Do I know a company who would charge a reasonable fee? NOPE. If money is a problem so is the project. There is more involved in starting a park than just sitting homes in a field.

Re: Estimating Cost Developing a Mobile Home Park - Posted by Scott

Posted by Scott on May 24, 2007 at 17:55:10:

I thought this sight was to answer questions for people, not try to tear them down.

Re: Estimating Cost Developing a Mobile Home Park - Posted by Gary

Posted by Gary on May 24, 2007 at 20:03:55:

Scott,just an attempt in pulling someone out of the dream mode and concentrate their efforts on smaller deals they can actually do. I had a warm and fuzzy feeling saving him a lot of time and disappointment,and you say I’m trying to tear him down. By the way,the correct spelling as you used it would be site,not sight. Sight is used when pertaining to eyesight or visual,see?

Re: Estimating Cost Developing a Mobile Home Park - Posted by Sam Chevel

Posted by Sam Chevel on May 24, 2007 at 20:31:05:

UH, not everyone is only capable of small deals, some have the ability to do large deals.

Hope that this helps,
SamChevel