Developing a mobile home park?

General Real Estate Investing
1

,

I want to develop a mobile home park. Has anyoned done it? Do you know what are the steps? Thank you

2

I want to do this also, if you get any help could you please let me know.

Thanks

Norma

3

Zoning, development, roads, water, power, sewer/septic, shovel money shovel money shovel money

Then when it’s done, it is providing no income.

Buy a house, move a house, setup a house, sell a house.

Do it again Do it again Do it again Do it again Do it again Do it again Do it again Do it again Do it again Do it again Do it again Do it again times your number of spaces.

People in the know say that developing a new park is cost prohibitive. Go to www.mobilehomeparkstore.com and spend your money there. OR, even more highly suggested, write to all the MHP owners in your prospective area and ask if they are interested in selling.

My advice, for what it’s worth: drop the idea.

4

Thank you Steve, have you ever done it?
I thought it would be a good idea since houses are so expensive now, but I think it makes sense what you said

I am new, and looking for al the advised I can get

thanks again

5

Definitely buy a mhp already in existance.

Patrick

6

Buying an existing non producing or upside down scenario. It is easier to revive and rebuild from a structural base already in place than putting in a new one and having zoning bylaws and red tape slow down your returns from the initial outlay. Buy a MHP which has room for improvement as well as expansion. Have it a mix of DW and SW homes. Offer L/o for the older models in the park which are park owned for quick turnarounds and use the extra income from sale of MHP owned units with the lease opts to do street lights, laundry facilities, tennis courts, snack shack, compueter center, scholarship from the park…these are incentives for new tenants to move into your park in comparison to the one across the street.

The outlay of the start up and returns from doing such is a longterm play and I would only think advisable if you are in the thinking of renting or positive cashflow retirement set up and not for the higher returns in shorter time period but then again I am no expert.