Where do all the new mobile homes that get sold end up? How does one get new tenent owned homes into a park?
I have heard of rent to own, does that ever work on older, not so nice park owned homes? Has anyone ever allowed a dealer to place and sell a home from one of your vacant lots?
There are few blog posts on BiggerPockets covering this topic under the mobile homes category!
Another good resource is the Mobile Home Park Mastery podcast by Frank Rolfe.
you can run adds and that you will move their home for free and free lot rent for a couple months as well. most of the time you have to find the older homes yourself and bring them in. and then either sell them on the RTO/rent credit, or as handyman specials. or you just rent them out and charge a higher amount than the RTO/rent credit to incentivize them into owning. also bringing in new homes thru CASH program will allow for quicker infill.
I have found it difficult to attract and encourage new home buyers to set their homes in my community. As a result I purchase, set then sell. I have found it far easier to attract home buyers as opposed to those willing to go to th etrouble of actually purchasing a home from a distributor. My buyers finance or pay cash which is far easier than RTO or rent credits and frees up my cash to bring in another home.
My community is upscal and new homes sell in the range of 110K to 130K.
thanks for the replies!
Thomas, are you purchasing brand new or used homes?