All Forum Posts by: Rachel H.

@Charley Schelhouse Other options include seller financing, bringing in a partner(s), or using a private lender. Hope that helps! 

 They've done both. With the new ones, usually the older ones on the land or in the park (if in a community) just take too much work to fix up. Some go the new home route especially since Clayton has a financing program for investors who want to buy new ones. 

Sometimes, it just takes too long for others to find used ones to replace the old ones. I'm finding a lot of investors going the new home route lately. I think it's because the financing is available and they're thinking long term. 

Hope that helps! 

@Robert E Bogino Yes, I've heard of this model. Usually, the investors I know end up renting the homes out versus selling them. Thanks for sharing! 

@Joan Garcia Hernandez If you're going to be marketing to mobile homes, it's best to market around the areas they are actually in. Find intersections close to where you want to buy these homes and where they exist. 

Usually, entrances and exits are the best locations when it comes to marketing for mobile homes. 

Hope that helps! 

@Sierra Gonyo If the home is in a community, you can always talk to the park manager or owner. Usually, they are the first ones to know when someone is looking to buy in the park. 

Regarding finding an investor buyer, you may want to ask the park manager or owner if they work with investors already buying in the community. These folks will be the most serious buyers. 

Also, you can check with mobile home dealerships around town. A lot of times, they also work with investor buyers in the area. 

Hope that helps! 

@Chris Look Definitely check the rent roll and verify the rental history for these properties. Also, look at the leases to see when they're up and the history of the tenants living in there. 

Another thing to ask for are any receipts of any work done to the homes by contractors. You want to see what has been put into the home to fix them up over the years. 

Other items to look at include: heating and air conditioning, hot water heater, roof, siding, plumbing and floors. Before you proceed with the deal, it might be a good idea to have an inspection set up of the properties you're planning to buy. 

Hope that helps! 

@Samuel Coronado You may want to check with your local manufactured housing association. They may have a few referrals of vendors who may be able to help you with your insurance needs. Also, check with local mobile home park owners and managers in the area. 

Hope that helps! 

@Bill Phillips Definitely talk to local mobile home dealerships in your area. Tell them you've got mobile home spaces for rent. 

Most times, they are looking for land or lots for their customers who buy their homes. Personally, I don't like going the advertising route when it comes to this business. Networking has generated me much better results when I have anything on the market. 

Hope that helps! 

@Clayton Coombs Regarding finding a good property manager, if many of the homes are mobile homes you may want to check with your local manufactured housing association. They may have some referrals for you. 

In the past, I've known some park owners to hire a person to manage their portfolio but this requires training which takes time and patience. 

Another option is to find someone who has managed these types of properties before. I know several park managers who found their jobs because they've been in the business for quite some time. Usually, they know how systems work and the process especially since this is a niche. 

Other than that, you can look into property management companies in your area. It's best to talk to those who have been in the business for a while and are truly local. They need to know the neighborhoods where your properties are located and have a team set up to handle service requests as they come up. 

Just a few suggestions. Hope that helps! 

@Brandon Kaleta Definitely check the zoning first before you proceed. Once you know what it's zoned for, it'll give you a better idea of what you can and cannot do. 

If you go the mobile home route, you'll have to comply with the laws in the area regarding moving mobile homes on there with the land. In some areas, there are limits and/or requirements as to the size, age and condition of homes that can be put on the land which usually depends. 

Hope that helps!