I am looking at buying an old rv park and turning into mobile home park. What are some things I should consider?
First off, consider attending MH University Boot Camp. Educate yourself in that space first. It is a different animal. There is much to learn and you can learn a bunch in a short period of time.
@Kyler Lee you should consider the tremendous amount of money it will take, if the county/city will allow it and what your long term goals are
@Kyler Lee First of all, just a word of caution that this kind of project is usually a waste of time. I have only seen it make sense when the location of the existing park was so incredible that the intense amount of time, money, and effort was still worth it.
However, if you are stubborn and would still like to pursue the project, in addition to the advice given above, start with the city and/or county zoning department to see if the current zoning will even allow for it. Land zoned for an RV park does not necessarily allow for MH. If that feedback is positive, check out the existing density and infrastructure. RV spaces are much smaller than MH spaces, so the current density of spaces at the park may not even work. The infrastructure for RV parks is not usually adequate for MH, particularly for electric, so you will want to understand what is there and whether or not it can even be used.
Not to discourage you, but this type of project rarely makes economic sense. Even if those items turned out to be good, you will still have to find homes, move them in, set them up, do the necessary renovations, sell homes (and conform to all the regulatory requirements) and do all the renovations to the park, the roads, etc, before you have any income coming from the park. It involves a ridiculous amount of time, effort and capital, so be prepared for that if you take this project on.
All the best,
@Jack Martin interesting feedback. Are you saying that it is never worthwhile to convert RV to MH space? So when you buy a large park that is primarily MH and partially RV, you wouldn't even consider converting to all MHP. I have a park I am in DD on consisting of 90 MHs and 37 RV spaces which do well but require extra payroll, electric, etc. I don't see how the RV business really is worthwhile and would prefer 100% MHs. What would be your advice in this situation?
@Serge S. I’m not saying it never makes sense. It just rarely does. It’s all about location, location, location. And of course the size of the spaces, the existing power to each space, and the zoning requirements are all variables that may or may not kill the idea. Most people think if you have an RV space that can be converted to MH but the zoning, pad size, and electrical is usually different.￼￼ And if the park is on septic, that usually will be a challenge as well.