For the last year or so I've kicked the idea around of building a new MHP. I have been doing due diligence in regards to feasibility and are competition, and I think I'm going to take the plunge. All the parks in my area (upstate NY 40 minutes each way to Rochester and Syracuse) would be considered 1 or 2 stars. All are old, stacked on each other (15/acre average), and not for sale. Additionally, none of them have any amenities and are all on septic/wells.

Here is my idea and please tell me if I'm on the right course or if my head is in the clouds. I think everyone in the area is outdated and offers nothing more than a parking space and I've located 152 Acres of land on a state road directly between two villages, less than 2 minutes to the area hospital and literally across the street from the high school (best school district in the area comp wise). The lot has access to municipal water, sewer, cable/internet, and gas and electric. The town will meter each lot individually for water and sewer as will the electric and gas company. (The town is on board and is willing to offer tax incentives for the development).

I will not own any of the MFHs, only lease the land to minimize expenses and because honestly it's not worth my time to deal with it. I plan on having amenities such as a dog park, community gardening area, community playground/pavilion in order to market it as a community and attract prospective tenants. I also plan on having 8-10 lots per acre. Obviously I am not going to use the all the land at once, but I will develop it so that it can be expanded in phases. (Having one side be a 55 and older park and the other open to the general public is one idea example).

Am I wasting my time/money with the amenities and larger lot sizes? This would undoubtedly be the best (newest) MHC in a 100 mile area. There are plenty of local jobs and a high volume of low income multi-units and MHs in fields in the area.

All of the numbers point to yes, I should do this (even if I develop the land and sell it to a competitor I'd triple my initial investment) I just need some reassurance!

Building a new MHP seeking advice

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