All Forum Posts by: Mike Reynolds

 Yes, you can Carl. But some considerations to think about. Most RVs are 30-60 AMP. Most trailers are 100-200 AMP. You will need add a breaker for a proper size plug in for the RV you plan to install. Then install an RV plug for that breaker.  I would leave the pole there and get a licensed electrician to install them off the main pole. A 30-60 AMP breaker to a plug should work fine for this. You will also need to have a water spigot and a sewer opening for an RV instead of everything closed. Unless you plan on leaving them there forever and then just hard pipe it on both accounts. 

Of course, you would need to find out the codes and ordinances of the area first. 

 I dont know what state or county/parish you are in but not usually. Different states have different rules. I am familiar with Texas and Arkansas at the moment. Texas you can get by for years until they find out you have a mobile home on it (depending on the county) and then you get charged if you own the land and the house. But if you buy the house from a dealer the owner of the trailer gets charged from the first year. The land owner not so much until they find it on your property. In Arkansas you have yearly tags you have to buy and put in the window. This is your tax as a home owner. The land owner does not get charged. But in AR, you see tags that are 5-10 years in arrears. I have not come across that scenario yet but I would bet that the tax assessor will get her/his money someday from somebody. 

In Arkansas, you can rent the land like in a MHP and make sure your owners are in the good with the tags and they will never bother the landowner that I have seen yet. I am a newbie in that state though so ask me in ten years. I would at least fight it and see if someone made a mistake or something. 

I have the same issue. I got told today I need to wait until Dec 2022 until I refi. For no other reason than they want 2 full years of growth. They even gave us kudos for turning it around so fast but still want 2 years anyway. That doesnt cut it for me because we worked hard  and have really wrung some value out of that park. Now, we dont have to spend weekends there anymore because they are pretty self-sufficient now. We are bored and need another one to work. We have a great team and we complement each other so well.  

What state are you in? My suggestion is to try the original bank you financed it at. I didn't go there first because I had a lot of trouble with the loan officer not moving fast enough. I was trying to do a double close with 2 different banks (in 2 different states no less) and just got a bad taste for both of them. In hindsight, they were ok I guess. Maybe my expectations were too strict. 

Dont give up and keep us posted. 

I remember seeing some cabins on Loopnet that might total close to that somewhere on Lake Conroe. Not at all sure about the OZ though. Conroe is probably not an OZ.  But if I just had to have STRs and an OZ I would look to multi lake front property. Maybe a marina if they are sadists and like to work themselves to the bone. 

I'm just spitballing here though. I have no expierence as of yet in STRs.  I almost got into it and still may. This is just my opinion. 

Oh yeah, I did see another in North Arkansas that was very beautiful. Also on LN I believe. Had a heated indoor fishing pier that I would want just for myself. 

Seems like there should be a question here somewhere. What happened to the OP? 

 I would say if you don't want them then forget them. I could see a way to monetize it but from my experience it is regional. In some places we have old trailers that get snapped up in less than 24 hours. Other places they may be on the market for a year. 

Our park in Little Rock it was a cruel learning curve. We could not buy a home unless we camped out on the sellers doorstep like at a concert. One of the partners found a guy who was selling out as his tenants move out. She contracted with him to buy them all our at least get first refusal. But she knows when the lease is coming up on 90 days. We have time to look at it and decide if we want it. 

We have sold all of them in less than a week after they were at up for cash. I've never seen anything like that. 

If you can find a serious mhp that needs infill then maybe you could have a side market. Otherwise I wouldn't bother. 

 Welcome to East Texas. 

 Sounds like you are hitting the ground running. Good for you. Welcome to BP. 

It was actually a buffet place that was huge. It was in a storefront plaza. That is all I can remember about the location. Inside there was absolutely anything you can think of to eat. In the back was the chef that grilled the steak to whatever thickness you wanted. I would say the place was about 10k square feet in all.  

 Was my thinking too.