All Forum Posts by: Taylor Hall

@Sid Leibowitz does the property need to be rezone to make some of it a motor home camp ground?

I already looked at logging it but the offers weren't good. Maybe hunters would be a good one, but where would I test that?

It's up by Forestport and Boonville. There is not much woods on that property, but I own another 300 acres of all wooded land up past Boonville.

 I got about 24 calls in about 2 weeks when I just recently put a 3/2 br trailer up for rent. 

@Ryan Wanner I looked through Craigslist and didn't find any people looking to buy mobile homes. Is it worth my time/money to put an ad on craigslist with an incentive for people to move to the community? 

@James Wheelock haha...I'm not looking to cash out just yet.

It's just north of the Utica, NY area

@Curt Smith do you rent the trailers out or are you doing rent to own options? Also are you offering any incentives for people to move to your park?

Well I am just looking at it in baby steps. If I can somehow fill out the remaining 10 lots that are fully developed then I could use the cashflow to build septics on the remaining 31 lots. I work for an excavating company so we do site work all the time. We can do infrastructure very cheap considering the property is all sand so we could run approximately 400-500 ft of pipe a day which will keep costs cheap. If I fill the remaining 10 lots at $350/lot that would cash flow me at about $85k/year.

I recently inherited a MHC from a passing family member. It sits on 60 acres of land with 48 pads approved for the MHC. 17 of the pads have Private water, electric, and septic. The remaining 31 pads just have water and electric but need septic added. 

Currently 6 trailers are owned by the MHC and they rent out for $650 a month for trailer and pad. The 7th trailer tenant owns their trailer so they just pay a pad fee of $350. 

The property has no debt and all the trailers are owned outright and they are all from the 2000's. about four of them were purchased 5 years ago so they are all relatively new. 

My expenses for the property are about $600 a month currently. So I have a positive cash flow of $3,650 a month. I want to figure out a way to build this park up and what's the best way to go about it. It's located in a rural depressed area in upstate NY. Most people don't have ways to afford housing so they look to rent. 

Also If I could get the 48 lots filled I could go into a phase 2 expansion for about another additional 100 lots for a total of 148 lots. 

Cash is tight at the moment and my credit is fair so I am looking for some ideas on how I could potentially build this up. The property is 3.5 hours away from me.