All Forum Posts by: Brandon Beatty

Thanks for the input! I found out that the biggest property is permitted to have 15 spaces as it sits. There is a mobile home park 50 yards away that has 100+ units and is currently 100% occupied. They use a “lease to own” model and charge 2-3k down, $900-$1000 a month for an agreed time, and then lot rent once paid off. They told me they have a waiting list.. There is an RV Park down the street that almost 100% occupied too. There seems to me a need for long term RV rental spaces for construction workers. I would not be interested in day rate / nightly stays. There’s a guy who has lived there several years who acts as a manager currently and gets a discounted rent.

It is actually located in New Cainey. The city of doesn’t have any restrictions. New Cainey MUD is who decides if you can add spaces, but since it’s in the ETJ, if more than 5 units is added, it must go through city of Houston for approval. I spent several hours calling them to see what that process was like and I’m convinced it probably wouldn’t happen. Guy in charge on new Cainey much said that the property currently have 15 spots permitted and if I wanted to sub divide the land, I could add 5 units each time it’s subdivided without going through Houston.

Adam, Are you in the MH / RV space in Houston?

Hey everyone again! - I realized that this post was not broken into paragraphs and difficult to read. Hopefully this is easier!

I am in the negation process of two mobile home parks (of some sort). I found an older couple looking to retire and are willing to owner finance these properties. These properties are located barely outside of Houston, Tx in a rapidly growing area with tons of construction. All of the nearby parks seem to be a combination of RVs, Park owned mobile homes, and mobile homes owned by the tenant renting the lot. Every park I stopped by was either full or near capacity. Both of these properties are in Montgomery county- I called the county and they told me they basically didn’t have building codes there & only cared if it was on septic? I am new to this and learning. The owners have been sick and want to sell. They were listed with a realtor for a combined 1M last year but did not sell. I called the realtor to see if the properties were available & to see why they did not sell. She said they got several offers, but the owners could never decide what they wanted to do. (They currently live on one of the properties)

Property 1- This property is 2 acres has 4 homes. (All park owned). There is 1 mobile home and 3 smaller pier and beam homes. Gross rent is $4200 a month. The owner pays utilities. This property is on a septic system. The owner claims they spent a lot of money on the septic and it was rated for 10+ homes. There is 1 RV hookup that is not being used. If I purchased this property I would add 5-6 MHs / RVs to the property (not sure which one yet.) 

Property 2- This property is 3 acres. There is 3 Siding / “tiny homes”, 3 mobile homes, and 5 RV spots. Currently the gross rent is 4500- 3 RV spots are vacant and two tiny homes are vacant. The tiny homes are 1 year old- the owner never finished them out. There is a large mobile home / RV park 100 yards away and it’s 100% occupied. If I bought this property I would rent out the 3 vacant tiny homes, rent finish & rent the two tiny homes, add 5 mobile homes and 10-15 RV spots. (This is my current plan- open to ideas). This park is on city water and sewer. Offer / price 700,000 @ 5% for 20 years w/ 50k down. I started around 600k but I think I’ll have to go to 700K to get it. (The low down payment is really the only reason I’m considering this). I think both of these properties will be increasing in value in the next 5-10 years a lot because of their location. 

Thoughts/ Concerns/ Questions- 

1. Both properties do not show multiple units on the tax roll. Will this be an issue now or moving forward? I don’t know how they can possibly own a property for a couple decades and no one notice they don’t pay taxes on the other houses, but it’s crazy. 

2. Should I mix RVs & MHs? Adding RV spaces to rent seems like a cheap way to grow the rent quickly. 

3. How much $$ do you budget for utilities per lot (rough guess) 

4. Should I be concerned about the lack of building codes and current properties? Any tips for adding building to properties located in these type of areas? 5. What do y’all think is the most cost effective way to increase the income on these properties? Thanks in advance!!

Hey everyone! I am in the negation process of two mobile home parks (of some sort). I found an older couple looking to retire and are willing to owner finance these properties. These properties are located barely outside of Houston, Tx in a rapidly growing area with tons of construction. All of the nearby parks seem to be a combination of RVs, Park owned mobile homes, and mobile homes owned by the tenant renting the lot. Every park I stopped by was either full or near capacity. Both of these properties are in Montgomery county- I called the county and they told me they basically didn’t have building codes there & only cared if it was on septic? I am new to this and learning. The owners have been sick and want to sell. They were listed with a realtor for a combined 1M last year but did not sell. Property 1- This property is 2 acres has 4 homes. (All park owned). There is 1 mobile home and 3 smaller pier and beam homes. Gross rent is $4200 a month. The owner pays utilities. This property is on a septic system. The owner claims they spent a lot of money on the septic and it was rated for 10+ homes. There is 1 RV hookup that is not being used. If I purchased this property I would add 5-6 MHs / RVs to the property (not sure which one yet.) Property 2- This property is 3 acres. There is 3 Siding / “tiny homes”, 3 mobile homes, and 5 RV spots. Currently the gross rent is 4500- 3 RV spots are vacant and two tiny homes are vacant. The tiny homes are 1 year old- the owner never finished them out. There is a large mobile home / RV park 100 yards away and it’s 100% occupied. If I bought this property I would rent out the 3 vacant tiny homes, rent finish & rent the two tiny homes, add 5 mobile homes and 10-15 RV spots. (This is my current plan- open to ideas). This park is on city water and sewer. Offer / price 700,000 @ 5% for 20 years w/ 50k down. I started around 600k but I think I’ll have to go to 700K to get it. (The low down payment is really the only reason I’m considering this). I think both of these properties will be increasing in value in the next 5-10 years a lot because of their location. Thoughts/ Concerns/ Questions- 1. Both properties do not show multiple units on the tax roll. Will this be an issue now or moving forward? I don’t know how they can possibly own a property for a couple decades and no one notice they don’t pay taxes on the other houses, but it’s crazy. 2. Should I mix RVs & MHs? Adding RV spaces to rent seems like a cheap way to grow the rent quickly. 3. How much $$ do you budget for utilities per lot (rough guess) 4. Should I be concerned about the lack of building codes and current properties? Any tips for adding building to properties located in these type of areas? 5. What do y’all think is the most cost effective way to increase the income on these properties? Thanks in advance!!

@theodora auwae can you send me info on your upwork skip tracer? The PM won't work for me currently. Also what have you paid in the past? Hourly or per address?

I've looked at auction.com houses before and have done some brief research. My main draw back from it is in a hot market (like DFW), these houses usually get bid up. I do not want to bid and track dozens of houses hoping to get one. How many houses do y'all bid on prior to getting a deal? There is guy I've talked with previously who is basically like a wholesaler but for auction.com except he never personally gets a contract. He supposedly has someone on the inside giving him information on properties with a lower reserve amount. He sends out a list of deals every week. If you get the deal, he invoices you for a 3-6K fee for his service. Have y'all ever heard of that?

Steven, How many units at a time do you renovate to do this in that time period?

Thanks for the great posts! Steven, On this 40 unit building- what was your timeline for the renovation? Do you only renovate one unit at a time or sometimes 2 units? The wall A/C units would look much better- I've never even considered them. Since the units are small only 500-800 sq ft, these units should work. What do these units typically cost?

Yes. I am in a competitive market. Most wholesalers use inflated ARVs with low rehab estimates currently