All Forum Posts by: Alex Wolfe

My business partner and I have roughly ~6 acres of raw land in Aiken SC. We are planning to put mobile homes on the land. I am looking for any and all advice/obstacles that go into starting a mobile home park from scratch. For example, getting the mobile homes to the land, building septum tanks for each unit etc. Any information is much appreciated!

@Michael Farrugia my "MHP mentor" who owns about 170 mobile homes (not MHPs though) says that Fayetteville is a disaster as far as keeping decent tenants. It's in the middle of no where and a major drug hub which can lead to obvious issues in the MHP. I was thinking it had potential because of the military base there. 

I've heard to stay away from Fayetteville NC. Decent prices and inventory there. 

@Will Gaston thanks for your reply. I am aware of the financing issue as I am in the business of hard money lending now. I guess I'm just curious if it's worth the headache of owning a trailer park (keeping tenants etc) or just stick with regular residential home lending. 

As you can see my professional background is in banking.  However, I have been looking into buying a mobile home park or just mobile homes (and pay the lot rent).  I wanted to get some opinions on which people prefer.  There are obvious pros and cons to buying the entire lot vs. buying a mobile home (in the $9k-$11k range) and renting it out.  I am in North Carolina and have heard bad things about Fayetteville, NC.  Born and raised in NC but still know little about the best places for Trailer Parks or Trailer Park lots.  What type of geographical locations are ideal?  Is it better to go ahead and buy the whole lot to own or be some what of a slum lord and rent out the mobile homes?

I was born and raised in Charlotte and have seen this city grow so much. The corridor is being pushed out further and further which allows for great opportunity at your price point. You can buy around $250k just outside the corridor (or inside depending on he size you like) with expectations of the market and city growing. I am not as familiar with Texas market so I personally can't compare as well.