hi everyone. i live in a small mobile park in the country. only 9 trailers in whole park. i own only one facing overlooking rest of park. paid 5000 including oversized shed and loft. covered deck. anyway landlord has rented to some undesireables (on disability, bout 26yrs old 6 kids evey one of his relatives moving into other empty mobiles renting and destroying) u now the story. anyway out of 9 i own mine my parents live next door been here 46yrs own theres, and my older brother owns his hes been here 35yrs. the park is getting out off hand with noise complaines and straight disrespect. together me and my family pay 750 a month lot rent(250 a piece). i found a house one 16 acres for 145000. think i should jump on it and take contol of trailers and charge 500 month and biggest deposit? or is that just greed talkin? lol any thoughts
Know what you’re buying
Any income property like a MHP takes some careful analysis of the deal before commitment to buy.
To assist you I’d suggest your hiring a buyer’s REA who knows and works in the income prop market…and frequently a buyer’s agent is paid by the seller as set up by the purchase agreement.
The experienced B’s Agen will know what to look at and for in your deal and can help you avoid big problems you might encounter if you tried to do this by yourself.
search for diamonds
Any chance the owner of the park you’re in now would want to sell? Sounds as if they’re not interested in the business anymore!
i think you guys are missunderstanding. although i did ask the park owner if he ever thought bout selling. he said for the right price. but if i bought the place id tare all the trailers out but the ones we own. ive lived in this park for 33 yrs. im 33yrs old all my life its home, just sick of the rift raft that comes with livin in a small trailer park. with that said im sure he want an arm and leg. back to the story. me my brother and my parents all own trailers here, 3 trailers we pay just lot rent. 250 each a mth. my plane was to find a property we could all move together to and sublease our 3 trailers out. basically just to help pay for the morgage on other property. the property i found is 16acres with a pond a stream and a 2004 double wide in good shape. they wont 149000 for property. but theres some snags. first the place used to be a junkyard, mostly everything gone oh well exept bout 6000 tires. township stepped in to help clean but are liening the property because of their help. god nows wat the bill will be. and second property is split in 2 pieces and the piece that is bare township says 1 septic per piece. so cant pull our trails and put there. and was told because of lien banks wont touch it. so ya guess all this was a pipe dream any thoughts?
You are not limited to those 2 properties.
Generally i would say this site is geared to people who are investors at heart. I dont mean to be rude but my feeling is that you will probably become discouraged and just stay where you are.
As Tracy says, you are not limited to those two properties. It may all be wishful thinking if you haven’t saved up $10-$20 thousand dollars among the three of you. You will need a down payment and thousands of dollars to move each trailer and more thousands to ready lots on another piece of property if it is even allowed.
You might want to buy more trailers in the park you are in as they come up for sale. You could then rent them to desirable tenants.