Mobile Home Parks? (by Dan [NY]) Oct 10, 2021 10:02 PM|
Mobile Home Parks? (by Richard [MI]) Oct 10, 2021 10:07 PM
Mobile Home Parks? (by Dan [NY]) Oct 10, 2021 10:15 PM
Mobile Home Parks? (by Robert J [CA]) Oct 10, 2021 10:42 PM
Mobile Home Parks? (by Sisco [MO]) Oct 11, 2021 6:40 AM
Mobile Home Parks? (by Ray-N-Pa [PA]) Oct 11, 2021 7:31 AM
Mobile Home Parks? (by Roy [AL]) Oct 11, 2021 9:32 AM
Mobile Home Parks? (by WMH [NC]) Oct 11, 2021 11:39 AM
Mobile Home Parks? (by Bill [NC]) Oct 11, 2021 11:57 AM
Mobile Home Parks? (by Dan [NY]) Oct 11, 2021 1:39 PM
Mobile Home Parks? (by Sisco [MO]) Oct 11, 2021 6:18 PM
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Mobile Home Parks? (by Dan [NY]) Posted on: Oct 10, 2021 10:02 PM
Looking to see if any landlord own mobile home parks? I own a handful of SFH rentals on Long Island, NY and have been doing a lot of research on these parks. Looking for the perspective of a landlord who has or had home rentals and also mobile home parks and they they compare to each other relative to management needs, tenants, collections, evictions and so on?
Mobile Home Parks? (by Richard [MI]) Posted on: Oct 10, 2021 10:07 PM
Check out mobile home park university. Everything you need to know. --24.180.xx.xx
Mobile Home Parks? (by Dan [NY]) Posted on: Oct 10, 2021 10:15 PM
I have been checking out mobile university reading, listening and so on. Trying to see if any landlords have a contrast and compare based on their experiences. --67.87.xxx.xxx
Mobile Home Parks? (by Robert J [CA]) Posted on: Oct 10, 2021 10:42 PM
I have a close friend who purchased a small Mobile home park in a good area close to the ocean (less than 1 mile away). During the next 10 years he would buy homes next door and expand the Mobil Home Park. This was back in the 1970's when land was dirt cheap. He had a neighbor down the block who was a real estate expert who he paid to manage and look after the park. After 20 years he sold it and carried back the mortgage.
This is not a trailer trash park. There weren't homeless either. Just people who needed to be near a body of water and live cheaply.
He turned 200K into 5M over 40 years. --47.155.xx.xxx
Mobile Home Parks? (by Sisco [MO]) Posted on: Oct 11, 2021 6:40 AM
I own a MHP. MHU’s advice is solid, their forum helps keep focus on the lot rent side of the business because of the lower expenses associated with lot rent biz.. It can be easy to focus the mobile homes, and obviously you do need to be knowledgeable about them.
As with everything these days, federal guv regulations, state laws and regs, make setting your course difficult.
Mobile Home Parks? (by Ray-N-Pa [PA]) Posted on: Oct 11, 2021 7:31 AM
Around here you need to make sure they have public water and public sewer. The other item you will want to make sure is going is the owners of the trailers are actually paying the taxes on the homes.
I was under contract to pick up a park at a reasonable rate last year. When I got the search done about the taxes, about 40% of the trailer owners owed taxes. Now 2020 might have been a bad year with people using C-19 for everything, but I didn't want to to become the owner of multiple trailers at one time at auction just so I could collect rent --24.101.xxx.xxx
Mobile Home Parks? (by Roy [AL]) Posted on: Oct 11, 2021 9:32 AM
Most of the MH parks in my area suffer from lack of decent property management and this produces Class F slums. About the only Class F hoods here are mobile home parks. --68.63.xxx.xxx
Mobile Home Parks? (by WMH [NC]) Posted on: Oct 11, 2021 11:39 AM
Surprisingly, Florida is one state that seems to do mobile home parks well. You see a lot of nice ones down there. --50.82.xxx.xxx
Mobile Home Parks? (by Bill [NC]) Posted on: Oct 11, 2021 11:57 AM
I have a MHP with 9 MH's. I do not own any of the mobile homes. I just rent out the property. They pay their own water, sewer, trash pickup to the city.
I provide 3 piers and a boat ramp on Old Banks Channel in Surf City, NC. Haven't had a vacancy in 20+ years.
Don't have any trouble out of them. I have told them all that you are entitled to "quiet enjoyment" until I see blue lights flashing and then it becomes my business. No blue lights yet.
I do give one little boy who is a miracle child a $2.00 bill occasionally and he thinks everything cost $2.00 no matter what. His parents require him to put the money in his piggy bank to save for college. He is an only child.
Had to have a discussion with a grandmother who thinks that she shouldn't have to pay rent because her daughter just had a baby. Grandmother thinks her daughter is the only female that has ever been pregnant. Told her it happens every 3 seconds world wide and unless it was a virgin birth her daughter didn't do anything spectacular. Rent is now coming on time.
By the way, mine are summer residents only. No year round residents. --75.138.xxx.xxx
Mobile Home Parks? (by Dan [NY]) Posted on: Oct 11, 2021 1:39 PM
Do you guys find it easier or more difficult to manage from a distance. I would be Looking for a park that rents pads, but doesn’t own the units. --107.242.xxx.xx
Mobile Home Parks? (by Sisco [MO]) Posted on: Oct 11, 2021 6:18 PM
I am nearby, but I can manage from anywhere. IMHO, you will need to deal with homes in order to keep the lot fee income. --149.76.xxx.xxx
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