innercity MHP - Posted by gary

Posted by Tony-VA/NC on October 25, 2003 at 11:39:49:

I will take a stab at some suggestions on this inner city park.

If I were to gamble a guess, I would guess that your biggest hurdle is going to be the city red tape. Cities typically do not like mobile home parks and do not believe them to be the best use of the property.

This may have been a partial reason for the decline in the park. For example, some locales have intended to drive out the parks have done so by attempting to not allow the park to replace any home that moves out of the park. Additionally they will not allow a home to be repaired beyond what they consider to be a certain %.

While the city seems to think this will help, the landlords simply get mad. Since they cannot upgrade the homes, the homes deteriorate. They are typically smaller homes and this attracts fewer and fewer tenants.

What is left is a tenant base that is desperate for housing and typically not a very stable tenant base. Drugs and crime may follow as well.

I would suggest you investigate the reality of the city hindering your turn around of this park.

I would suggest that speaking with local politicians about the need for “decent, low income housing” might be a way to get the ball rolling. Meet with section 8 and find out the kind of housing shortage they are facing.

This does not mean that you should not meet with the owner first to determine his/her interest in selling. It simply means that I believe you have additional due diligence barriers to overcome.

First things first. We need to have a motivated seller.

Best Wishes,

Tony

innercity MHP - Posted by gary

Posted by gary on October 24, 2003 at 08:04:40:

Anyone have any experience with turning around small parks in innercity areas? Especially parks located in less that perfect neighborhoods. I ran onto a small park, badly in need of updating, cleaning out, and a general make over and was hoping for some ideas before approaching the absentee landlord. The “Manager” hinted that the owner wanted to look at selling.

http://www.creonline.com/money-ideas/index.html - Posted by Greg Meade

Posted by Greg Meade on October 28, 2003 at 19:56:21:

there are 4 parts to turning a trailer court into a manufactured community. a very good read. Check archives for turn around mhps! good luck…i know inner city parks are doing great in Houston. Yuppies are moving into inner city parks as commute times increase to 2 hours each way!!

Re: innercity MHP - Posted by Eddie-Mi

Posted by Eddie-Mi on October 25, 2003 at 13:55:04:

I just bought a 50 siter in a less than perfect area. Short lots and older, smaller homes. I rent most of the homes out. Racially mixed area.

I would definately try to figure out the owners name and call him. Or just have the manager pass your number along.

My experience is that there are generally drugs and a lot of evictions. Along with a lack of enforcement of rules which doesn’t change overnight.

Be careful though- updating, cleanup, and a general makeover costs a lot of money. Another problem is the city really bothers you about code violations. I even had the news camera’s at my park when I was demo’ing an old trailer.

I agree with Tony about parks not being hands off. But they can be managed from long distance fairly well. I would never buy a park without having an onsite manager who collects rent and puts up with the B.S.