All Forum Posts by: Omar C

Going through the same thing and the water heater for the 4 unit I'm about to purchase needs to be replaced at a cost of $1000 plus and before I even had the inspection done the bank said don't expect to have the price drop a penny no matter what the inspection uncovers. The market is very competitive with multiple bidders all within 5%. I highly doubt the bank will drop the price but it's always worth asking.

Good point, i know when my father ran the park one of my uncles ended up purchasing a bulk of the trailers without my father finding out till it was too late. My uncle was making more money than my father was with no risk and kept threatening to move everything out if he didn't get his way.
I periodically check the nearby Parks for trailers but they are either a flat roof or owned by the park. I rather have no renters and all home owners but it's been a struggle to get this park up to where it has been.
My goal is to get my mom a consistent income where neither her or I have to keep funding the park just to break even.

Thanks everyone for their advice, if you have more please don't hold back.

Thank Jim for the great advice. I'm in LaPorte and one of the stipulations I agreed to with the city was that the trailer will have a pitched roof. My manager onsite is great at repairing and maintaining the park but attracting trailers to move in is not one of his strong suits. I informed him over a year ago that I will pay all moving expenses for someone to move into the park. So far not one has taken me up on my offer.

I've tried to find partners and management companies but I seem to always get the short end of the stick.

When we do bring in a trailer we normally charge a few hundred dollars over cost but at the price I'm paying it's impossible. For our older trailers we typically give them away as long as the tenant is willing to do some minor work to the trailer.

I'll look into "lonnie" dealers in the area, before you mentioned it I never knew about it.

Thanks again.

First of all thank you everyone for this site, stumbled upon it a few days ago and have learned a lot.

My situation is I inherited (unexpectedly) a MHP in Northwest Indiana that is on 20 acres, 10 of which has 50 pads, a state of the art septic system capable of handling over 250 homes, well water, paved streets and a manager who can do almost anything.

I currently only have 9 trailers and I haven't broke even in the 5 years I have had the property. I have spent money on purchasing 3 trailers at a cost of about $15k each with the hope of selling at least one of them. I ended up having to rent them out for lot rent plus trailer rent since I couldn't find anyone to purchase them. That along with various fines that existed before I took over ate through a lot of my capital that I had allocated.

My question is how can I get trailers on my property with little to no investment, I have people interested in moving in I just can't afford to purchase newer trailers and then only rent them out. Are there any home builders or mortgage companies that specialize in placing and financing homes onsite.
I have spoken to a few local guys and none wanted to move the trailers without my purchasing them beforehand.

Thanks in advance