I need advice on MH deal with extra lots in Wichita Falls TX
I am in talks with an owner who has 8 lots in Wichita Falls. They are in the country but in city limits they have separate water, electric meters and city sewer. These lots are individually platted and have their own taxes, ect.
There are two with manufactued homes ( I am in the process of accessing them) and the other lots are empty. There were MF homes on them at one time.
My plan was to get the existing homes up and running and then fill the other lots with homes that I can find. I plan to rent them.
Upon doing my due dilligence with the city, i found out they require homes "not ever lived in". So they in other words they have to be brand new. $$$$
The existing ones are grandfathered in.
This of course increases my budget for these homes.
If the lots were combined, and designated a MHP. then I would be able to buy used ones, and rent them out.
Im looking for advice. Has any one done this? Also looking for information on demand for MFH in Wichita Falls and just someone to bounce more ideas off of!
Thank you for your advice! My mailbox is open! Hope to hear from you soon!