Chicago, IL · Member since 2014 · 91 posts · 32 votes
What are the typical lot sizes most of you have, I'm seeing 100 lots on 5 acres or less and that seems very tight. On 10 of my acres I have 50 pads that are somewhat spaced apart but I couldn't even imagine having close to 200 pads sharing the same space?
I'm in the process of changing my configuration of a majority of my park and if I can squeze in more lots I'm all for that.
Rental Property Investor · Denver, CO · Member since 2008 · 355 posts · 324 votes
12y
we like sites that fit homes that are at least 14 x 70. That is probably a pad that is 40 x 100. In some places, like Texas where they can grow the mobile homes big- we want 16 x 80 homes. Now your about 45 x 110. Many older parks will only fit smaller homes- which might all be 2 bed 1 bath homes- so watch that.
Here is a Jim's Tip- download Google Earth to your computer. Then open the map to the mobile home park. In the tools you will find a ruler. Choose feet, and click in one spot- now move your mouse and click again. It will show you how far, in feet, between the two clicks. So- you can now use that too to see how big houses are, or lots. You can leave the line on the screen as a marker, and lay out homes on the map. *advanced tip* at the bottom left of the screen- as you zoom in- is the date the image was taken. Well, try scrolling through the dates to see if the best image might be an older one. I know we use ones were there are no leaves on trees for instance. This is a GREAT way to preview a property prior to visiting. This along with 'street view' on can really help. *super advanced tip*- you can use your mouse to 'fly' across the image (map). So, maybe your like me and visiting a city, and you want to see the mobile home parks you do not know are in the area. I just spend some time with google earth and I mark them on my map. Then- if your really tricky you can use the GPS in your tablet or bluetooth your garmin into your computer- and you have a live map showing you where to drive too... or mark the maps and mail the owners, or print the maps and drive to the parks... anyway- that concludes Jim's Google earth Tips for the day... happy hunting!!
Rental Property Investor · Denver, CO · Member since 2008 · 355 posts · 324 votes
12y
we like sites that fit homes that are at least 14 x 70. That is probably a pad that is 40 x 100. In some places, like Texas where they can grow the mobile homes big- we want 16 x 80 homes. Now your about 45 x 110. Many older parks will only fit smaller homes- which might all be 2 bed 1 bath homes- so watch that.
Here is a Jim's Tip- download Google Earth to your computer. Then open the map to the mobile home park. In the tools you will find a ruler. Choose feet, and click in one spot- now move your mouse and click again. It will show you how far, in feet, between the two clicks. So- you can now use that too to see how big houses are, or lots. You can leave the line on the screen as a marker, and lay out homes on the map. *advanced tip* at the bottom left of the screen- as you zoom in- is the date the image was taken. Well, try scrolling through the dates to see if the best image might be an older one. I know we use ones were there are no leaves on trees for instance. This is a GREAT way to preview a property prior to visiting. This along with 'street view' on can really help. *super advanced tip*- you can use your mouse to 'fly' across the image (map). So, maybe your like me and visiting a city, and you want to see the mobile home parks you do not know are in the area. I just spend some time with google earth and I mark them on my map. Then- if your really tricky you can use the GPS in your tablet or bluetooth your garmin into your computer- and you have a live map showing you where to drive too... or mark the maps and mail the owners, or print the maps and drive to the parks... anyway- that concludes Jim's Google earth Tips for the day... happy hunting!!
Chicago, IL · Member since 2014 · 91 posts · 32 votes
12y
Thanks Jim for the great tip on the Google Earth tool.
What are your thoughts on the newer ranch style mobile homes that come in 28x44 that are 3 bd 2 ba? They are about the same price, the transportation and setup will be more since it is a small double-wide. I think the illusion that it is a ranch style home rather than a typical mobile home may have a broader appeal. Once built out it would more closely resemble a subdivision than a mobile home park.
Rental Property Investor · Clarkston, GA · Member since 2012 · 2k+ posts · 1k+ votes
12y
My partner and I are in the market to buy a MHP in GA. Jim you helped ALOT re your how to tell the lot size of a given park. Plus your tips on what size is desired to hold current homes. Which I suspect the 1970's parks here in GA the pads are spaced too close and too shallow to hold current sizes...
So what is a strategy to replace junk in a possible purchased MHP?
Rental Property Investor · Denver, CO · Member since 2008 · 355 posts · 324 votes
12y
So- I do not buy double-wides. The pas rent is the same for singles and doubles, and fewer doubles fit in the spaces. So I do not look into that market at all.
As for replacing homes- we buy pre owned mobiles, then fix them up and sell them. In a blue moon, I might pull in a Legacy home. We sell affordable bedrooms and bathrooms. On a lease / option someone has space rent payments of 250, home rent payments of 250 - 300, and then at the end of 3-5 years they pay between 3 and 6 thousand for the home, which I will finance at the end of the lease. To be clear- I finance on a personal promissory note- the title transfers at the end of the lease term if they choose to buy.
Rental Property Investor · Holley, NY · Member since 2011 · 507 posts · 347 votes
12y
To avoid a nasty surprise, if you plan on reconfiguring lots, check with the local zoning regulations first. Many of the zoning laws have been updated and newer parks require larger lots. In a lot of cases, older parks are grandfathered even if they have lots that are smaller than what is now required.
I just picked up a park that was originally approved for 102 lots but was built for 107. It has had 107 for a long time and nobody has said anything. Needless to say, I don't plan on changing the layout as it might cost me my grandfather status.
Chicago, IL · Member since 2014 · 91 posts · 32 votes
12y
Thanks everyone for the insight, I looked into the zoning and I'm ok since we are not within the city limits. I will have to file a new plan with new lots but from my understanding the county is willing to work with me.