Selling Manufactured Homes in Park - New Development Questions

[Carly Peterman]

Partnered with the original investor on an empty lot already zoned for 50 manufactured homes and an area for storage units, etc. We have connections with dealers to acquire and move in homes. We plan to sell, keep the land, charge lot rent, and upgrade the community. So we're not able to list on the MLS as they are not affixed to the ground. I've built a website, FB marketplace, Zillow, and all of that. We have a plan to push them through financing with a good lender that deals with this type of loan. We get lots of leads and have two homes available to walk through and tour, and they can buy those or customize and order different floor plans. The homes are brand new, good quality, listing around $120,000.

So what am I missing here? We can't seem to get people to the property to tour in person or push them past the initial lead. I can't quite figure out where the pinch points are happening. Has anyone started the ground up and sold all their homes in their park with lot rent? I see a lot of advice on financing and renting out homes, but ideally don't want to go that route if at all possible. 

[Will Stewart]

All our homes go on the MLS (maybe every MLS is different?)

How about signage on the road? Bandit signs at busy nearby intersections?

The last resort option of course is to list them for rent, possibly your market just can’t support $120k for in-park homes?

[Roger D Jones]

@Carly Peterman
Do you think the financing part is your pinch?  Does the down payment and income requirements make it difficult for first time or low income buyers?   Go to some local banks and speak to some loan reps.  They may be able to help with first time buyer options.

I would reach out to local hispanic organizations and any housing non profits that may be assisting in finding people affordable housing.  There may be some inroads there to travel...

Congratulations and good luck.  Sounds like you have a great deal going.