Mobile Home Park Investing
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated almost 12 years ago,
Need Help with Mobile Home Park
First of all thank you everyone for this site, stumbled upon it a few days ago and have learned a lot.
My situation is I inherited (unexpectedly) a MHP in Northwest Indiana that is on 20 acres, 10 of which has 50 pads, a state of the art septic system capable of handling over 250 homes, well water, paved streets and a manager who can do almost anything.
I currently only have 9 trailers and I haven't broke even in the 5 years I have had the property. I have spent money on purchasing 3 trailers at a cost of about $15k each with the hope of selling at least one of them. I ended up having to rent them out for lot rent plus trailer rent since I couldn't find anyone to purchase them. That along with various fines that existed before I took over ate through a lot of my capital that I had allocated.
My question is how can I get trailers on my property with little to no investment, I have people interested in moving in I just can't afford to purchase newer trailers and then only rent them out. Are there any home builders or mortgage companies that specialize in placing and financing homes onsite.
I have spoken to a few local guys and none wanted to move the trailers without my purchasing them beforehand.
Thanks in advance