All Forum Posts by: Zack G.

What is the best mgt software for a small 25 site mobile home park? No park owned homes. Fully leased out. Rural setting but there is reliable internet in the area. 

Looking for recommendations on best software for general management, and most importantly, receiving lot rent? Has anyone gone fully electronic with success in small MHPs?

The software support of maintenance requests, communication, and general storage of data would be really nice, but the most important feature would be ease of payment for tenants. Not much turnover in the park.

Used Buildium for a bit with SF rentals and considered it "okay". that's my only experience with mgt software.

Any and all guidance/advice would be greatly appreciated!

Some market research feedback:

Posted on craigslist for 10 days. 30 different replies. Posted a picture of a 7 year old trailer for rent for $905/mo in a mobile home park. I would imagine a Zillow add would have had double the responses, based on normal CL vs Zillow adds on my SF rentals.

Here are the rough #s:

Land: 50 independent lots valued at about $500k

Water sewer hookup fees: 500K

Roads + Infrastructure: $750k

Total all in to get infrastructure ready: 1.75m for 50 lots on water/sewer...

Then to roll the trailers in for rent/sale....

Definitely a need for more affordable housing in the market, but just not sure if its a build it and they will come scenario....and how long to unload trailers vs. rentals 

What about a zillow or craigslist ad? #s still the same?

I have a piece of land that i own with 50 small individual lots. The property is about 30 minutes from Harrisonburg VA, but definitely outside of the city a bit. The lots are zoned to accept singlewides. There is town water/sewer hookups available for about $10k a lot. There is high speed internet available, and its 4 minutes to the major highway and local supermarkets.

I am trying to evaluate the feasibility/profitability of this project. I know folks warn against starting MHPs, but is a MHP on town/water sewer with high speed internet a different story?

When i do a rough NOI calculation at $425 for lot rent, the project would appear to be worth around $2mil after completion (how long will that take? years presumably?), and my all in would be around 1.5m. I can take that the dev. costs on a per lot basis, which will help, so i dont need to spend $500k upfront the on water sewer hookups. PLus, i can always bulldoze the lots on 30 years and sell them for homesites.

What am i missing? Please help SFH investor with no MHP experience.

Greetings!

Long time podcast listener but first post. Have 5 rental properties in rural Virginia. Small residential properties. Opportunity to get into a commercial property cheap presented itself. One 5,000 sqft brick building and two 50x100 25' tall clamshell outbuildings. 2.5 acres. The main building has 1 apartment taking up about 1/4 of the building.

Considering converting 5,000sqft building to storage + managing apt, building self storage units outside, and RV/Boat storage for buildings.

Looking for general cost estimates for self storage conversion. There is already a concrete pad on 1/3 of the property, but it is not level.

Looking for guidance on rural S.S. in 30,000 person county. This property is off the beaten path a little. Does it matter?

Do I have to go full tilt, or can I start with 1 30x100 building and see how it goes?

How much do fully automated systems run for a small facility like this?

I've done a considerable amount of reading online, but I trust the BP community! Are turnkey builders who specialized recommended or buying materials and hiring a GC? THANKS IN ADVANCE!