Mobile Home Investing

[McKenzie Peterson]

I just purchased some property where there are an abundance of mobile homes. Does anyone have any advice on whether turning the area into a mobile home park or just trying to put a few units on the property would be best. Just looking to hear some wins/losses on this type of investing strategy.

[Will Graham]

@McKenzie Peterson A lot of cities just don't like the way that mobile home parks look and the way that they are kept up a lot of the time. Some of it depends on how far out your property is from city limits. I'm not sure how many homes it takes to qualify as a "park". You might be able to get away with it if it's only a couple.

Also, you have to consider the costs of development. Roughly 20k per pad to get the infrastructure in place. Maybe more if you have to install septic. Then you have to buy homes and move them to your property. Just make sure you consider all the costs.