Has anyone done a complete clear out and restart of a MHP?

[Tyler Wagner]

I've got a lead on a park in a great location and school district, but the place is an absolute dump and is below 10% occupancy. I did a drive thru yesterday and it needs a complete overhaul. There are 20+ vacant homes that look beyond repair and frankly if they were salvageable, they wouldn't be up to the standard that I would be hoping to create in a fresh new community. 

My question is, has anyone had experience taking on a project like this? If so, I would love to hear how it went for you and any tips for making it successful. 

If I aquire the property, I hope to do a master lease with option and have very friendly terms in the first year or so to allow me to turn the property around without the high financial burden on a property that doesn't make money. All thoughts will be appreciated!

[John Arendsen]

You may want to consider something like this. We do them all the time and it's not as difficult as it looks. Additionally, you may run into some issues with "legal nonconforming" situations whereby whence you remove an existing structure completely and replace it with a new one you will have to comply with any/all setback and permitting requirements that were once grandfathered in. 

It may not be an issue in Michigan but it most definitely is in Cali. Or on an economy of scale basis it may not even be feasible. Good luck. I'll keep you posted on our progress on this particular home if you or any other member/contributors wish.

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