Updated about 5 years ago on . Most recent reply
Mobile home parks : lot rent vs park owned
Hi Bigger Pockets family, first time poster long time lurker. I am closing on my first brrrr SFH rental in a few days. The house comes with 5 acres. I had originally intended on breaking it off and selling it to help fund another deal, but now am tossing around turning it into a mobile home park. I could fit about 30 pads on the property, and it is located a short distance from a major employer for the area. Ideally I would like to go the lot rent route, but finding a dealer or lender that would finance a mobile home for a potential renter without owning the land is almost impossible. I could go the park owned route, but I would have to go with dated mobile homes if I did that. Capex on 30 dated trailers is a bit more than I want to take on. Does anyone have any experience in this area or any creative solutions?