Will folks buy the home and just rent the land? - Posted by Philip

import · July 25, 2003, 3:44pm

Posted by philip on July 26, 2003 at 12:32:30:

I guess my competition would be some of all those things. Plus other land/home packages, but most are double-wides.
Folks really want out of the parks and parks charge up to 135.00 per month here.
Even 3 miles farther from town I think I can get 150.

It seems most land/home deals around here go for more than the rentals per month, and more than the total cost of a home in a park.

The buyer has a little more space and autonomy.

I hope I can find a few that don’t take too much advantage of their autonomy.

Thanks,
Philip

import · July 25, 2003, 3:44pm

Will folks buy the home and just rent the land? - Posted by Philip

Posted by Philip on July 25, 2003 at 15:44:55:

I was thinking of selling land/home packages on contract instead of renting the land.

Wouldn’t folks want to own the land?

Or do they just want a little space, that is cheap, bad enough…so they don’t mind the rent?

Around here a park is from 100-134 per month.

Would that indicate that I could start the first years rent for an acre at 150 per month?

Philip

import · July 25, 2003, 4:31pm

what’s the difference? - Posted by Steve-WA

Posted by Steve-WA on July 25, 2003 at 16:31:05:

What does your acre offer that a MH park lot does not?

Garden area? maybe.
Running space for pets? probably.
Buffer space from the neighbors? oh, yeah.

Develop a list that reflects your lots’ characteristics. For what it’s worth, I think $150 is easily worth the extra benefit over what one gets for a $134.00 park lot.

Been following this deal since you first started posting about it. Good score!

import · July 25, 2003, 5:12pm

Re: what’s the difference? - Posted by philip

Posted by philip on July 25, 2003 at 17:12:02:

So how about $160?
I want to be able to raise it each year of their mobile home note, by 10$,…over say 3 years, and then about their 5th year make it a nice $200.00.

That rent would be almost half of what some homes rent for around here and yet their would be little maintenance.

But I want to be fair and not be a hog also.
Philip

import · July 26, 2003, 9:12am

Re: what’s the difference? - Posted by AL (Wi)

Posted by AL (Wi) on July 26, 2003 at 09:12:52:

Being fair is giving your customer (as they see it) more value than they can get in a park.
Being fair to yourself is to get the income as high as you possibly can.
The market will not let you overcharge. If you try, it will punish you with a vacancy. If your price is fair you will attract a customer.
Find out what and where your competition is. Parks? Stick built rentals? What do they offer? What do they charge? Can you set a rate that is just below your competition?