Commercial Investing Ideas

[Josh Pratt]

Hello everyone, 

I am interested in commercial investing, with mobile homes and RV parks being high on the list.  I have just recently started speaking with a local MHP owner (only one in town) and seems like he is willing for me to bring in mobile homes (pay him land rent) and rent them out to tenants.   This seems like a great way for me to get my feet wet without diving all in at first.   There are a couple of vacant pads at this park.  It's in a decent area.   Anyone out there currently doing that?  I do understand that I will have to manage these units.  Lot rent is $155.  

My initial thoughts were to do a small development of about 7 pads myself.  I know of some commercial land within city limits, but I'm not sure the number are going to add up there.  What are the general costs to set up a spot?  I generally like the idea of buying and then owner financing homes while also collecting the land rent.  

I have also spoken with a local RV park owner about potentially buying his park.  Price is 225K.  It is 12 spots and a small house.   This is NOT a destination park, and primarily has long-term, month by month rental agreements.  RV parks generally scare me a little more because everyone could back up in one day and roll out of town.  Another local RV park actually buys RVs and rents them out on a monthly basis.  

Thoughts?