All Forum Posts by: Paul Sofia

It's apples to oranges as there's no way you can buy a single-family home for as little as you can buy a mobile home. Some of the homes in our park sell for as little as $2,000, while the median home in the U.S. is $200,000. Of course, the entire investment concept is hugely different. The stick-built home is "real property" so it appreciates in tandem with the overall market, while mobile homes are "personal property" so they do not typically appreciate unless the market is extremely hot. But the money in the mobile home investment is strictly about cash flow, not appreciation.

The mobile home is personal property if it is not deeded with the land. If title is surrendered and home deeded to property, it becomes real property and the home would appreciate in value in an appreciated market.

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Originally posted by @Abad Marroquin:

Paul Sofía I am using a local bank for financing. It’s not a park. Is that good or bad?

It's fine, as long as you understand what you are buying. How far through the underwriting process are you?

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This is not a mobile home park if each home has an individual parcel. Are you paying cash?

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I would have your attorney draw that up for you.

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Originally posted by @Chris C.:

Originally posted by @Paul Sofia:

Cody, I would suggest to the owner to keep the POH's and do a 2- 3 yr. lease with him on the pads with renewal option. At that point, no worries in the maintenance of the homes. I am guessing the shell value of the homes are minimal?

what does POH stand for? park owned homes

Yes, Chris.

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Originally posted by @Mica Moore:

Originally posted by @Cody Godfrey:

@Mica Moore I completely disagree we already have 3 parks and have done this before.. Simply asking for advise not negativity.

Unfortunately, it's very rare that you find an agent educated in the MHP space.

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I'd like to discuss this with you, Gerald. Where in Concord?

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Charlotte, North Carolina

Sent you a pm, Eric.

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Originally posted by @Jason Pigott Jr:

Hi Susan, did you ever find anyone for your deal? I’m am in the same situation in Fort Myers.

Sent you pm, Jason.

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All Forum Posts by: Paul Sofia

Paul Sofia has started 3 posts and replied 322 times.

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