Updated about 7 years ago on . Most recent reply
Mobile Home Park Strategy
Whats up BP! I found a couple mobile home parks close to me that are for sale. One is 90%+ occupied and nice little community. The other is particularly interesting to me and I want to hear some opinions about this strategy. The second one is in a small rural community. It has 49 pads, but only 5 residents. 4 are renting the lot only and the other house is owned by the park owner and rented out to the tenant. I know that's less than 10% occupied, but what makes it interesting is that only 7 pads are actually vacant. 10 of the houses have been abandoned and and 7 are owned by the park but unoccupied. Here is my question. Is it worth purchasing this property and rehabbing the homes that are unoccupied? What is the process to get the title for the abandoned homes? Does it make sense to purchase a distressed mobile home park and try to flip it to increase occupancy?
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#2 Land & New Construction Contributor
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- Charlottesville, VA
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#2 Land & New Construction Contributor
- Developer
- Charlottesville, VA
@Josh Heeb you want to get the trailers for free and owner finance not lease purchase.
It would need to be a sweet deal to make sense. Is the property owner willing to finance you?