How do I increase cashflow from small MPH - Posted by Nancy

Real Estate Investing
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Posted by George (NoVa) on February 25, 1999 at 06:59:49:

Kevin is right about needing more info, but here are a few ideas to contemplate:

Install individual meters for water and Electricity.
Create individual billing for trash pick up.
Have each homeowner take care of their own grass mowing etc.
Install a community satelite dish and charge for access.
Increase density, ie. 4 mhp’s per acre.

Congratulations and Good Luck with this new venture.

George

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How do I increase cashflow from small MPH - Posted by Nancy

Posted by Nancy on February 24, 1999 at 19:43:40:

I am in process of buying a small mobile home park. Four acres in country. Seven lots, old farm house, and small brick efficiency apt.

I am looking for ideas on increasing cash flow. The current tenants have one year leases. Most leases expire next July.

THANK YOU FOR ANY SUGGESTIONS.

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Re: How do I increase cashflow from small MPH - Posted by Kevin OK

Posted by Kevin OK on February 25, 1999 at 22:36:38:

Further thoughts…you might want to check to see what restrictions there may be for the area, i.e.:

  1. Would you need to add more septic systems if you add more mobiles, AND just as important can you? Perc testing, etc.

  2. Is there a sufficient volume of water supplied to the area, that would allow for increased useage, without prohibitive expense? This question would apply to both private wells or rural water districts.

  3. Is there a Planning Commission in the area? Would you need their approval to add mobile homes to this property? Just because the site is “in the country”, it may not exempt you from some local restrictions.

Food for thought…Kevin OK

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Re: How do I increase cashflow from small MPH - Posted by Bud Branstetter

Posted by Bud Branstetter on February 25, 1999 at 19:47:34:

Try coin washers and dryers as well as other vending machines. Sell prepaid phone cards and install a coin phone. On 4 acres you should be able to add more pads.

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Re: How do I increase cashflow from small MPH - Posted by Kevin OK

Posted by Kevin OK on February 24, 1999 at 20:11:04:

You will need to post or at least have more info, such as current income schedules, and expenses…Who pays utilities…what are comps in the area renting for? Area increasing or decreasing in desireability & demand? Renters waiting to get in? What could you do to upgrade the area to justify rental increases? etc. Kevin OK