Carmen ~ hello, thanks for your reply. We are in central NC. I was wondering what kind of demographic studies would be appropriate… what to look for in terms of location ( e.g.near industrial plants ) … Also, I was thinking about a retirement Village… not sure how to determine if we could draw enough residents… I want to avoid certain things such as renting-trailers. We are thinking about starting small ( say four to nine acres ) and add on as it appears profitable and feasiable. Does three pads to an acre sound about right, do you think?.. The objective here is not to GET RICH… it is to provide a trust worthy retirement income that at the same time as we “age out” the responsibility of upkeep would be fairly seamless. Again, thank you for your response, I will check these web sites and look for reading material immediately.
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
My husband and I have been researching the possibility of developing a Mobile Home Community in Texas, we have done some residential developments in the past but not MHP’s. You can find books / courses that deals with MHP’s on this site, such us Ray Alcorn’s “Deal Maker’s Guide to Mobile Home Parks” (http://www.creonline.com/products/b-137.html) and Ernest Tew’s “Get Rich Helping Others” (http://www.creonline.com/b-134.htm). You have to start with a market analysis and then go on to the details.
What part of the country are you in? We are North of Houston, TX. You can contact me directly if you want to discuss this more, I’ll be glad to tell you what I have found so far.
You may want to talk to Earnest Tew about this, at www.earnesttew.com Additionally, look at the mobile home board, and you might want to search your topic there.