Mobile home park restrictions

[Anja Schepp]

Hello all! I see a lot of people with experience in mobile home park investing on here, and hoping someone wants to give their $0.02.

I am in Austin, TX, and like many other places seeing explosive growth and prices driven sky high, 50-100k over asking for SF homes etc.

I have been eyeing a property that is listed as a fairly new mobile home sitting on almost a full acre, checked out tax records etc and the land does belong to the seller. It's currently listed for $/acre rate that's below several recent sales in the area, and is zoned accordingly (MH).

Given land appreciation in an area like this, is this a deal you would pursue? What considerations should you take into account in fleshing out if it is a good deal or not?

I don't mind moving here and house hacking, I currently rent and actually really enjoy the area from what I've seen, so that is definately an option.

[Brenden Mitchum]

@Anja Schepp

Best bet would be to call the title office. Since the home is so new, the title is likely fine but you'll want to make sure you're aware of any liens on it (likely the case if its purchase was financed).

An ADU is not a bad idea or even bring in another trailer if the county will let you. Heck, maybe you could bring in some tiny homes or modular homes. Essentially, you just want to find a way to make it work without having to rent by the room. I cannot even imagine how messy renting a MH by the room could get.

I agree with you, even if there were no home on the plot, it might be a smart purchase. You just want to make sure that it's a purchase that can sustain itself while you wait for that land value to go up and up. 

Best of luck and, please, keep us (and/or me) updated with how it goes and any questions/concerns that arise!