mobile home park development - Posted by annie
Posted by annie on March 12, 2002 at 10:56:38:
Several years ago my husband and I purchased three acres of land for $24,000 in a developing community. We decided to not build and are now wanting to sell the land for a nice $25,000 profit. We are in our early 50s and are looking at an inadeguate retirement plan. My husband’s health is supported by medications, and that further jeopardizes my personal security ~ and most particularly since he is underinsured.
We have rented an acre of land as a mobile home site for many years now and have grown to appreciate the low personal requirements it demands from us ( basicly taxes and emptying the septic tank periodically.Tenants tend to stay for several years.) We are perhaps spoiled and/or blinded by the positive experience this acre has offered us.
MY QUESTION ( finally ): It would seem that a GREAT way to bettersecure our retirement/financial future, and to avoid having to pay Uncle Sam tax of our profit from the three acres at the time of sale, would be to invest in a small ( nine acre ) tract and then develop it into a mobile home community.
…I know this will not be simple : )). I would appreciate any insights, precautions, directions, and resources your experienced writers might offer… The image I currently have is one that would be a community more so than a “trailer park”… I am sure LOCATION and PRICE and starting points… I am also interested in noting early on what to address upfront legally and what is involved in the hands on development(water, sewer,lights,roads)… my husband is a project manager for the area oldest and finest general contractor. I have yet to sell him on this MARVELOUS IDEA !!! : )) Thank you for your time and response. God bless ~ annie