I have a 9 acres in city limits in Texas and I want to build a mobile home park

[Stuart Edwards]

I have a owner of 9 acres in city limit in the north west/central Texas who wants to sell the property. What type of contract do I use because I was recommend by my lender that this will be a commercial deal that will take longer then a normal house contract. I want to build a mobile home park and a steel building  for a park office and some other amenities but I don't know what is needed or how costly it will be.
I do know the cities codes and the zoning needs for a mobile home park. Currently the property is zoned wrong because of this I have reached out to the zoning department to work on that. I really need to know the numbers on the building costs so I don't get robed by the contractors or some contractors contact info that work well and keep it with in budget.

[Jay Hinrichs]

Quote from @Logan M.:

Hey Stuart, thanks for reaching out.

Zone changes can be a lot of work but if the city is supported I would pursue it to see what you can get done.

Have you run a feasibility study?

I would write up a contract that is probably 3-6 months long with lots of potential exertions built into it. This is not a flip deal this is a development deal.

Until you have plans drawn up I am not sure if you will be able to get accurate bids.

What is the utility situation?

Stuart  Please take no offense to my post here.. However based on your questions I highly recommend bringing in a partner that has experience at this en devour.. developing  a park takes a special set of skills.. Just having a contract is super simple advice I mean we all know you need to start with a contract.. But you need so much more than that.  From what I have read on BP Logan who answered you is an experienced operator looking to expand.. I don't know this first hand but I believe his post to be accurate..

Many municipalities stopped providing zoning and permits to build parks years ago thats why existing parks are in such high demand little competition from new parks being built. so thats the first thing you do is go talk to the city planning department you can walk in and grab a planner at the counter to start asking your questions.. If the answer is we no longer entitle new parks well then you stop there and don't waste anymore time or money.. If they give you positive feedback then be prepared to spend some significant cash getting your applications ready. Each city will be different you might pull it off for as little as 20k could be as high as a few hundred grand.

next is financing this is where Logan comes in on top of his expertise.. If you have no experience developing or owning parks you stand Zero chance of getting a loan Unless you have significant cash reserves and by that I mean high 6 to low 7 figures in cash.

The reason its so tough is called Absorption. You have to put all this cash out and then wait to fill the spaces they don't fill over night and so you severely negative cash flow for the lease up which can take years depending on the amount of spaces.. I have owned 3 parks in my day.. So have some experience at it.  However when i look at parks to build and I have looked just could not make sense of them compared to buying existing.. So my recommendation is to get with Logan if he is willing and talk this all through and maybe its something he would be interested in adding to his growing portfolio of parks.