Posted by Stephen Bruington on March 15, 2006 at 16:25:36:
Roanoke
Filling MH Lot Vacancies in Virginia - Posted by Stephen Bruington
Posted by Stephen Bruington on March 14, 2006 at 21:32:33:
I work as a Property Manager in Virginia over seven mobile home parks. We have, at present, nearly 270 tenants in addition to 50 or so vacant lots.
Does anyone have ideas for filling single-wide lot vacancies?
Re: Filling MH Lot Vacancies in Virginia - Posted by Dickie McCraney
Posted by Dickie McCraney on March 17, 2006 at 20:16:49:
Try going to you local mobile home dealers salespeople and offering them $100.00 in cash for every home they send to your parks. It works for me.
I wish I had these problems! lol! - Posted by patsears
Posted by patsears on March 17, 2006 at 19:37:09:
nt
Re: Filling MH Lot Vacancies in Virginia - Posted by Brian
Posted by Brian on March 15, 2006 at 15:43:32:
Where in Virginia are you located?
Re: Filling MH Lot Vacancies in Virginia - Posted by jp(sc)
Posted by jp(sc) on March 15, 2006 at 06:46:46:
The fact that you are here, asking that question, makes you the best property manager I’ve ever heard of. We’re talking 99th percentile here. Congratulations.
I think you’ll get some good answers from the knowledgeable people on this board.
First, know that many lenders for new single wides require land to be financed also, so your target tenants may own used homes. If you have a requirement like “homes cannot be older than 5 years” then you are SEVERELY limiting yourself.
Moving a singlewide home can cost 2000-3000 dollars or more depending on what is included and where you are. Most average joes don’t have that kind of money. Perhaps you could talk the owners into incentivizing new arrivals. How about several months of free lot rent to offset moving costs? How about offering 1000 dollars towards their moving costs?
If I were you, I’d order “deals on wheels” and build myself a successful side business. You have the corner on these parks and can make yourself a good bit of money while still making the owners wealthy. If I were you, I’d be out buying repos to move onto those lots and sell them Lonnie style (its in the book). If you aren’t into that, then you would do well to contact some local Lonnie dealers so they can start moving houses in. You will almost certainly have to incentivize them. You’ll need to offer them free lot rent until the house is sold, and it would be nice if you could offset some of the moving costs.
Those are just some ideas off the top of my head. Hopefully some of the more experience people here will comment also.
jp(SC)
Re: Filling MH Lot Vacancies in Virginia - Posted by Stephen Bruington
Posted by Stephen Bruington on March 17, 2006 at 21:03:48:
Dickie:
It’s funny you should say that, we’re offering $600 to the salesman that is responsible for moving a home into our park IN ADDITION TO up to $1000 in down payment assistance to a prospective buyer, in the event that they need the financial boost. We have paid $1200 in rewards to one salesman in a small town here, not far from our office, for moving two homes into two different parks.
Any other thoughts? Thank you though, this is good and we have been doing it for some time. Just “waiting for them fish to bite!”