All Forum Posts by: Beth L.

Hi All! I am running numbers on a property for sale: 2 lots side-by-side containing 3 mobile homes. There is one well serving all 3 MHs and they each have their own septic tank with one shared drain field (installed in 2000). I have never invested in something like this before and have some questions regarding the pros and cons of a ground rent only type of investment. It seems like it would be a hands-off type of deal, as the tenants own the MHs and take care of all the maintenance.

Here are some questions:

What happens if they stop paying rent? Do I give them a Notice to Quit and have their MH moved off the land?

Do I need to purchase any insurance if I am renting the land only?

Are there any long-term strategies I should have in mind, or am I limited to continue running it as a MH lot?

Is there any way to add value to a property like this?

Thanks!!!

Kyle, did you ever follow through on this purchase? I have some similar questions, as I am looking at 2 lots containing 3 tenant owned mobile homes with well and septics, so it would only be ground rent and seems to be pretty hands off. I have so many questions though, as I have no experience in this area of investing. If you've gained any insight, I'd love to hear it!

Sure, can you message me your email address?

This is why I focus on anything outside of city limits. The taxes and other fees in city limits are too high and they attract a lower quality pool of tenants. But many are successful owning in the city, as some have already mentioned.

I found this site if anyone is interested in opposing the two-tiered tax: http://savehagerstown.org/

Anyone from Greencastle, Franklin County, PA Pennsylvania that can tell me if there are any landlord requirements on the city, county or state level? For example, do you need to register with the borough/pay any fees, are there any lead paint inspections, etc. Thanks!

Hello All! We are currently ready to install the new kitchen cabinets that we purchased a while back and stored in the basement of the unit we are remodeling. (We had to put the reno on hold for a while.) The basement had been clean and dry, but apparently encountered a moisture problem over the summer and now the back sides (all exposed particle board) of the cabinets are covered in green and white mold. YIKES!

Are the cabinets salvageable? I'd hate to dish out for a new set of cabinets if they can be cleaned, disinfected and sealed. Anyone go through a similar experience? 

Brick is generally maintenance free. Sometimes on old houses the mortar can start to deteriorate and would need to be fixed, but if you don't see any crumbling or missing mortar, probably all is good.

I use tenantbackgroundcheck.com. Cost varies depending on what services you choose, but I usually get the $30 one.

Do you also have a sign out front?

Tell all your friends about it. Post it on your Facebook page.

See if your town has a Facebook page for those looking to move. Advertise there.

Hang tab fliers on the boards at all the local gas stations in the area. 

Make sure your email address and phone number are accurate in the listings.

Do most people in your area still check the listings in the newspaper instead of online? You may need to place an ad there.

I also have a unit for rent right now, and interest is lower than I expected. I think that this time of year right after school starts, many are not looking to move, like they would be during the summer.

Hang in there! You'll get it rented. 

I first pre-screen on the phone or email. Then I meet them for a tour. Then if they are interested in applying, I give them the application. I accept the fee when I meet with them again in person to get the completed application and supporting documentation.

The other method may work in a big city where people line up their accommodations remotely before they move from afar, but that would NEVER work where I am. People complain about even having to pay a fee, or even having to fill out an application for that matter!