I recently gutted my Dad's mobile home and moved in. I have been amazed at this whole experience and now appreciate this low cost/low maintenance lifestyle. When exploring the possibility of investing in Mobile Homes in my own park I was immediately shut down by park rules and civil code. Is it possible to invest in Mobile Homes in California?
I assume when you say "my own Park" you mean the one your house is in. If you Owned the park that would be a whole nother issue.
Mobile homes are cheap to work on and repair. I love them as an investment, but we own them with land attached. Have you tried a few different parks, some parks are NOT investor friendly, but some are.
Keep searching and good luck.
Thank you Joshua. I will check out some other parks. I really like the idea of buying in a park because sometimes people need to get out from under the space rent and you can get some deals that result in a win/win. I also like the idea of owning the land. I will explore both options.
Great advise Joshua. Some parks are investor friendly and others parks are not. Don't worry about the parks that don't want you there and focus on the ones that see you as the value you are. Additionally, there are things you should not say to the PM when you are introducing yourself. You will be buying and reselling the homes, and not renting or subleasing the homes. Be humble and ask for permission and keep a disarming smile on your face.
Hope this helps some,
Thank you John. Great advice. Once you develop the relationships will subleasing become a possibility? California civil code says the only way to sublease is if the owner has to move out due to medical reasons. I am hoping there is a way around that.
I am also wondering if getting my real estate license will give me some credibility?
So very grateful for the help and advice.
@Janis Marashlian have you moved forward with Mobile homes... I am considering and am located near you