Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Mobile Home Park Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated almost 10 years ago on . Most recent reply

User Stats

9
Posts
4
Votes
Jack Reed
  • Investor
  • Watonga, OK
4
Votes |
9
Posts

Trailer park does not allow Rentals?!?!?!

Jack Reed
  • Investor
  • Watonga, OK
Posted

So i purchased a mobile home that was already in a park, the person i bought it from was currently renting the property but after the last tenant left she decided to sell. I have worked on the property for a month now and finally met with the park owner to sign lease and set up autodraft for lot rent. During our conversation he asked me if i was going to be living there and I told him no, I am renting the trailer. He immediately said NOPE, we dont allow rentals, everyone here owns or their family owns the houses.

So now I have a problem, what the heck do I do with this house? There are several more for sell in adjacent parks and im afraid i will not be able to sell it. 

Im thinking about owner finance maybe, any suggestions? 

Most Popular Reply

User Stats

91
Posts
32
Votes
Omar C.
  • Chicago, IL
32
Votes |
91
Posts
Omar C.
  • Chicago, IL
Replied

First attempt to work with the property owner suggesting they have guaranteed rent whether the home is occupied or not.  If that doesn't work offer to sell the home to the owner for a very small profit if any, cut your losses and move on.  If those fail then look to sell the home at the same time see if there is an investor friendly park nearby that will allow you to move the home there.  This will can possibly add a few thousand to the total cost. Don't even bother with owner financing, you suggesting it indicates you haven't done your research on it.  At the end it's a lesson learned and your best bet is to minimize your losses.

Loading replies...