Buying older “junkers,” renovating them, and then selling on terms is a good way to make a quick profit.
However, you might want to consider what it is doing to the value of your park. If the homes you move in now are old, what will then be like in the future should you decide to sell?
You might think about paying a little more and buy a few late-model homes from lenders that have repossessed the homes. That way, you may be able to upgrade your park and make a profit on the homes.
We currently own a smaller park in central NY area, pre-owned homes are selling for around 14k re-habbed. We have room for about 8 homes on our lot and can buy junkers down state all day long for 2k and $800 to have hauled up here. Would this be a good idea to have these homes rehabbed myself and then re-sell or to have this work contracted out? I do have free time to spare. Some of these homes are in real rough shape, roof repair, floor repair, belly repair, plumbing repairs, etc. All suggestions are welcome.
If you’re not familiar with rehabbing a mobile home, why not have someone else do it and help them as ‘free’ labor? That way, you can plumb their minds and learn how to fix them yourself. Either way, sounds like you’ll profit quite a bit.