HELP: Seeking advice on MH Park - Posted by Gordon P

Real Estate Investing Mobile Homes & Mobile Home Parks
#1

Posted by Ernest Tew on February 10, 2001 at 06:16:52:

Hi Gordon:

We have been successful in filling vacant lots in parks by purchasing new and late-model homes, setting them up ready for occupancy, and selling them on easy terms. You could also start a “rent to own” program. In one large park, we found that 80% of the lots we rented were the direct result of having “sold” the home.

Although it takes a lot of cash to buy homes for cash and then sell on easy terms, it can result in four sources of profit: A profit on the sale of the home; interest on the financing; additional lot rent; and an increase in the value of the park.

If funds or financing isn’t available, you might look into finding one or more individuals that would be willing to participate. They could either joint venture with you or lend money on homes with your guarantee of repayment, secured by a first lien on the home.

If you would like more details, please call me at (352) 475-1280 or send an e-mail.

#2

HELP: Seeking advice on MH Park - Posted by Gordon P

Posted by Gordon P on February 09, 2001 at 16:30:56:

Hello All,

I would very much appreciate any suggestions you might have about a real estate situation I have.

I currently own a small mobile home park (72 spaces) in Conrad, Montana. Conrad is a small town (5,000 people) 67 miles north of Great Falls, Montana. The park has individual metered electricity and sewer hookups to each space.

Currently there are 15 tenants in the park, each with their own mobile home. I’d like to fill up the remaining spaces as much as possible. The problem is, Conrad is too small. I’ve been thinking of trying to draw tenants from Great Falls. Running ads in the local newspaper isn’t doing any good. I get an occasional taker, but it’s rare.

Conrad is on a major highway, leading to Great Falls. Great Falls has about 40,000 people. The largest employer is the Air Force base, followed by the Post Office, and several service companies and businesses like Wal-Mart.

Any suggestions you have that could draw people to the moblie home park would be greatly appreciated.

Thanks,
Gordon P

#3

Re: HELP: Seeking advice on MH Park - Posted by Jay Hopkins

Posted by Jay Hopkins on February 13, 2001 at 07:43:12:

Air Force Bases have “Housing Offices” staffed to provide assistance for military people relocating. If you contact the housing office; many times you can list what you have available with them. The housing office can help military personnel and YOU too at the same time.
good luck
Jay