Feasible to purchase mobile in a park?

Question

Account Closed · Answer

I own one in a park and it is profitable. My lot rent is only $150 and the rent is $475. It doesn't make a ton of money, but I've had it for about 15 years and it just keeps producing with very little maintenance or expenses.

Leslie A. · Answer

I rent travel trailers in a park and it works out nicely, so far.  My rent is $650 to $780 and lot rent is $260, so they have a nice margin.

The park itself is also a good source of potential renters for me.

Andriy Boychuk · Answer

@Shane Waller

It can definitely be done.However, majority of mobile home communities do not allow rentals. Only owner occupied properties.

Mark Gruetzmacher · Answer

@Aaron Montague

I am new to this type of niche as well but I think it is can work just fine depending on the numbers.  I have 2 going at the moment.  Both need fix up then will be ready to rent.  THe lot rents here vary from $215 to over $300 but most being in the $250 and under range.  Depending on the size and condition rents seems to be in the $500-800 range.  For the amount of investment, I think the number are workable.  Good luck.

Rachel H. · Answer

It can definitely be done. The key to being successful in this niche is taking the time to research and know your market. Though it takes time, once you know the area supply and demand when it comes to parks you'll be one step ahead of the game.

Hope that helps!

Aaron Montague · Answer

@Shane Waller

Run the numbers.  I don't know how much rent you get in your area, but $280 seems like it would take a big bite out of whatever profitability you currently enjoy.

If that  $280 gives you all sorts of benefits, both financial and time, it might be worth it.

Run the numbers :)  Or buy the park?