First of all I’m new to Realstate so please take it easy I’m just looking for a little help.
By trade I’m a welder so with that being said I work on big and small job sites. This time I’m working at a job that’s going to last a few years, I was paying $450 a month for only lot/water, electricity would range from 200 to 300 during the winter( each lot has its own meter) so total of 650 to750, with that alone I started looking into it.
Long story short I bought 15acres for 50k. The property that I purchased came with a single wide(completely trashed) but it has all the utilities on site. The property also has a private water well, sewer system of 2/1000 gallon tanks with 600ft of lateral. I have completely disconnected the single wide from all utilities and I’m currently only using it for storage. I have two lots operating right now on the property , one lot I’m parked on and the other is rented out monthly for $500(all included) my mortgage is $370 that leaves me with $130 to cover electricity,one lot extra covers my mortgage and electricity and water comes from the well in my property. So I guess it’s kinda like “house hacking”
Now my next mission is two add more lots!!
ELECTRICITY
There’s a number of lots I can have before I become commercial and have to get a license for a campground, if anyone knows that number please help me out?
For some reason I thought it was 8lots because of the new meter panel that I’ve install is a 400amp service and the electrician told me anything pass 400amp is commercial, newbie mistake I didn’t verify so I went with it and with that system I can put up to 8 lots total(2existing and 6working-on).
If anyone can help me please I’m all ears,
