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Updated over 8 years ago on . Most recent reply

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Carla Newton
  • Centralia, IL
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good place for a mobile home park?

Carla Newton
  • Centralia, IL
Posted

I'm a total newb to real estate and would appreciate feedback. I own free and clear a 5.25 acre piece of farmground, nice n flat, frontage to well paved road,good school district, in country about 5 miles from a town of 18.000. My land is located about two miles from the county's largest employer.  I have very little cash. Right now the only return I'm getting on my ground is about $500 a year from tenant farming. I'm wondering about opportunities for a mobile home park? Should I look for a developer?   Any input appreciated, thank you    Carla

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Belinda Lopez
  • Specialist
  • Houston, TX
300
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579
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Belinda Lopez
  • Specialist
  • Houston, TX
Replied

I wrote an eBook called "So You Want to Build a Mobile Home Park"  I'll send to you.  It covers zoning, permits, utilities, neighbors, etc. Many seasoned folks will tell you it won't make economic sense but it can work if you know what you're up against before you get started.  As with all real estate, if the numbers make sense, then go for it.  If they don't, don't make an emotional decision, let it go and onto the next deal/plan.  Lots of opportunities you may not have even considered for the land.

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