Newbie...Looking for info (LONG) - Posted by Tim

Posted by Dan - GA on July 31, 2003 at 21:27:00:

The purchase price isn’t the most important thing. What can I sell them or rent them for is the most important. Then if you can buy and rehab and make money, go for it.

The parks 10 year or newer policy is typical of many parks. I have a park, and I can live with the existing old models (if they’re paying their lot rent), but when a new one moves in, I want it to maintain or improve the overall look of the park. If I let all the 1977 junkers into my park that meet the HUD code, my park will eventually look like junk also.

Newbie…Looking for info (LONG) - Posted by Tim

Posted by Tim on July 31, 2003 at 20:18:33:

Hello everyone. I have been reading this forum for quite some time and have finally decided to try this out. I ordered DOW but I haven’t got it yet. Was wondering how you guys felt about renting mobile homes for awhile prior to selling them? I have already made the much encouraged contact with a PM in this area (We have 2 parks in this town, same owner/PM for both) He welcomed me with open arms, does not have problems with rental, CFD, as long as he knows who the tenant is. I have a mobile that I got on a trade for some labor (I do handyman services in our area) that I am putting about $300 in rehab into and thinking of renting for awhile. I have another oppotunity to buy a mobile(2/1) for $600 from some friends. The PM has a mobile a guy started to rehab and then mouthed off to the PM and got thrown out of the park(left the mobile) the PM wants $2k (3/2)and its almost done, have to finish drywall and floor coverings, and install the kitchen.

All these can stay, with PM blessing. Only catch with this PM is bringing in mobiles wont take anything older the 10YO even though there are lots older then that there.

I guess the question(hesitation) I have is the old saying If it sounds too good to be true…

So what does everyone think???