Mobile Home Park Development

[Donald DiBuono]

Hi,

Brand new Mobile Home Park investor! I have a vision of building and developing mobile home communities in upstate NY that are vertically integrated to allow future members to choose from a catalog of homes, have them installed, provide them with financing options, and make the process of selecting, buying, and living in the community very smooth.

Since this is my first time doing this, I would love to chat with an experienced mobile home developer on the following items:

Zoning - navigating the zoning process to allow the community to be allowed

Start up costs - I am a finance person who would love to better understand start up costs - septic / electrical / water / pads / roads / etc

On Going Maint Costs - in building our business case, I want to build a conservative financial model to capture all re-occurring expenses - utilities, landscaping, capex, septic clean out, etc.

I know this is a lot, but would greatly appreciate talking to someone who is an expert in this asset class!

Thanks,

DJ

[Mike Reynolds]

Quote from @Adam H.:

Hello All, I'm interested in building a Mobile Home Park on some property I have in Texas.  I'm currently trying to determine the feasibility for a park on that property.  Does anyone recommend knowledge sources on building a mobile home parks (websites, books, organizations, plans, etc..).  There is a small park about a mile from the property, so I know the infrastructure (water, electricity, sewer, trash) is available for a build.  The property is in a rural area, so I'm trying to project how much demand there is.  I'm still trying to get in contact with the park that is near to get their monthly lot rate.  I did get lot rate for a similar rural park that is about 40 miles away, and they charge $350 per month, which is decent.  Again, if anyone knows of any resources about building a park and running it, please let me know.  I bought a book about investing in parks, but have only found 1 book about building a park, which was from the late 1950's.

 Don’t assume that you will have water. Many rural water companies are near capacity. I’ve seen people buy land thinking water was covered only to find out they had to pay 6 figures to get water re-routes or upgrade pump stations. One project in particular they said they only had enough pressure to do 3 more meters. This was for an RV park so 3 meters wasn’t going to be near enough. 

There are solutions though. In this case I suggested a 10,000 gallon water tank with just one of those meters attached to it. Then the water can be pressurized from there to the park. It was the best solution but it did cost extra.