Lender · La Porte, TX · Member since 2017 · 26 posts · 3 votes
I've found a few deals on MHs that are installed in a park but the manager wants it moved. i wanted to keep it in the park because idk where to move this damn thing.
do investors have a piece of land to move them to like a warehouse? that doesnt seem effective or rational.
@Sergio Rios, @Kai Hodge, I think Kai Hodge has a great idea, and it's definitely worth a shot. Very low cost to try it out and test the market. Give it a try and report back. Best of luck. Hope to hear how it goes.
If you are serving as a wholesaler, I would recommend structuring the deal while the home is still in the park. Your end buyer would fund the move and directly either take it to their private land or another park. If you want to keep the deal for yourself I'd check with local movers. They may have temporary storage availability until you find land. Their storage fees are cheaper than lot rent.
At this point to me it’s identifying what type of deal it is. I’ve never done a deal before but have began looking and this is helping my eyes get trained to what each deal even looks like.
from a community manager and others in hearing that in TX it’s hard to find a park that will let you buy and then rent it out.
Some have offered the advice of doing a “Seller Finance” which sounds great but what made me ask the question was finding several homes I liked that were “must move”.
I’m guessing since it has to be moved this is probably just a selling situation and not suitable for any kind of rental as I do not have my own land
I think you are doing great. The best way is to get out there and start asking questions. Coming up with exit strategies from every deal you come across helps you better assess your options as an investor with a home. Theres usually potential with everything.
Doing lease options in a park can be difficult. It works for some people but doesn't sit too well for me. There are too many hoops to get through and half your money goes to the park.
Owning land that is setup for mobile homes makes more sense to me. Then you keep it all. Even if you dont have a trailer you can rent the land out, just like a park, charging monthly lot rent.
If I had a must move deal coming out of a park, I would wholesale it. Alot of people want trailers to put on land but never think to look in a park. Do a test ad on marketplace and you will see how large the demand is.
Also, ask why the park wants them out. Its not common for a park to want trailers out unless they are updating the park or the home has significant issues. I've seen parks sell must move homes that should really be demolished. Make sure they have the title.
@Sergio Rios you might start looking for inexpensive land you could move the homes to. I talked to a guy at a conference a few years ago that was making good money finding used double wides and moving them to country lots that already had well and septic. He rented some out and sold some on contract. Depends on your area but you may consider it.
@Sergio Rios It depends on your end goal. Do you want to resell quick to someone else with their own land? Or move it to another location and rent it out? It's probably best to have a plan and know what you want to do before doing anything. Best of luck!
@Sergio Rios, @Kai Hodge, I think Kai Hodge has a great idea, and it's definitely worth a shot. Very low cost to try it out and test the market. Give it a try and report back. Best of luck. Hope to hear how it goes.
@Sergio Rios keep in mind the age of the home will be a critical factor in the value and whether it can be installed at another location or not. Homes manufactured prior to 1976 are generally referred to as "pre-HUD" homes. After that, the standards of manufactured homes increased and each one has a HUD sticker installed in the home as identification. Pre-HUD homes cannot be moved and set up in another location without bringing the home up to current code standards. Due to that, pre-HUD homes are really not worth anything if they have to be moved. If you want to make a business out of buying homes, pay attention to the year the home was manufatured.
I have friends that wholesale houses - they'll build relationships with the community owners and when they find a potential MH, they'll text make model condition to the owner. If the owner is willing to buy, they'll offer based on the owners price minus their mark up. And yes, the owner will be responsible for the move.
@Jack Martin As Jack brought up - make sure it can be moved!