MHP land - Posted by Bobby

Posted by Bobby on March 01, 2001 at 18:47:20:

Thanks, for all your help.

MHP land - Posted by Bobby

Posted by Bobby on February 28, 2001 at 16:50:11:

Hi all,

My wife and I are planning on buying some land and building a small MHP, oh some 25-30 spaces.

Other than land, we need:

Septic Tanks
Power Poles, (Electric)
Roads put in, Asphalt
Cement Slabs for homes.
Water, (Well)
Taxes
Insurance.
Perking of land.
Buying Land. We need approximately 8-10 acres for 25 homes on 1/4 acre spaces.
Building permits
Do we buy our own Mobile Homes for Park or have tennants bring them in or a combo of both. Do we sell spaces or just rent spaces?

Is there anything I have forgotten…and where do I start?I know it is hard to tell me what ball park figure it is going to cost me but someone make an educated guess. Is it better to buy a MHP that is already built?

Land is about $2,600 an acre here.

Thanks,

Bobby

This will be in Virginia if that helps you. We do not have property yet as this is in planning stages.

Developing MHPs - Posted by David Krulac

Posted by David Krulac on February 28, 2001 at 18:12:10:

  1. Zoning is the single most important factor, make sure you can do what you want where you want.
  2. Engineering and development cost, infrastruture, etc. will exceed the land costs.
  3. Economies of scale dictate that a minimum park is 100 units. Now you don’t have to build it all at once but maybe 4 phases of 25 each, but provide for your own growth.
    Good Luck

Re: Developing MHPs - Posted by Bobby

Posted by Bobby on February 28, 2001 at 19:01:29:

Thanks for your help, It sounds like you have built one…so I have to build one for at least a hundred units…That would mean some 20 acres of land plus or minus.

You don’t have to… - Posted by David Krulac

Posted by David Krulac on February 28, 2001 at 21:46:12:

its merely a suggestion.

  1. The economy of scale for say the sewage treatment plant is such that a unit to service 100 units does not cost 5 times what a unit to service 20 units. The price per unit is less. The engineering and legal fees are also lower on a per unit basis, the more units that you have.
  2. For resale professional investors seek out MHP with 100 or more units.
  3. You can grow into it, by building in phases.

Re: You don’t have to… - Posted by Bobby

Posted by Bobby on February 28, 2001 at 21:59:53:

Thanks David, I will have to look into it as we would plan on selling it in 5 to ten years after completion.
It makes good scense that the more you can divide the cost per unit the better the project. So how many homes would you put on an acre of land, without making to cramped…would a 1/4 be to much or to little space for a singlewide and how much for a doublewide, would I do better for a mix of singles and doubles or just singles or just doubles…for resale what would be the best way to go?

Is it hard to deal with permits and govt. agencies.

Zoning and local government climate… - Posted by David Krulac

Posted by David Krulac on March 01, 2001 at 17:23:58:

dictate how many units per acre. usually there is a different number if you have public sewer, treatment plant or septics, some places around here allow 6 or 7 per acre. some government agencies are more difficult to deal with and have many more rules. Good luck, Bobby