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Updated almost 13 years ago,
Looking for first deal and have a few questions
First off thanks to everyone who posts on this site. It is a great resource for real estate investors. I am ready to make my first deal and I have one that has caught my eye. Mobile homes are fairly popular in my area and I think that owning and renting the land that they rent should be a good investment. I found a lot that is listed at $29,000. It is 10,000 sqft and in a decent location. Lot rentals for trailers go for around $350/month here and this lot could easily support 2 if not 3 trailers. MY questions are based on making sure that it is indeed a possibility rent this land to multiple trailers/mobile home owners before I put an offer on it. Would this be a zoning situation? Who in my city would I need to contact to get the ball rolling on this?
Also the sellers ad claims utilities are hooked up. How would I go about separating the utilities so that each tenant would have access to their own power and water supply? Thanks in advance for any feedback.