All Forum Posts by: Deborah Mettler

I read this thread with interest as I manage a 20-acre mobile home park.
I actually joined BP because they have this forum.

Not all mobile home park owners will permit investors to move in mobile homes. We do, but that is an exception in our area. We also do lease-options on our mobiles..we find that the tenant takes better care of the mobile using this method. I really didn't understand one post "most good parks won't allow lease-options". It really is the preference of the park owner.

I personally think the best avenue to use to buy mobile homes is looking at your local community newspaper. The ones that sell for $1.00 and come out every week. From my experience, this is where you will find alot of mobile homes for sale, and don't forget about Craigslist. If you're not afraid to buy out of state, then Ebay is a really good place to find mobiles for sale and also a good place to sell them.

Matthew, you provided alot of good information for folks, but I personally manage the Park a little differently than some of the methods you have in the chapter you provided.

Every state has different state laws. In my state of SC, a 5-day notice is required. I don't post these notices on the tenants door. I actually have the notice within the lease. Otherwise the notice would have to be mailed certified to the tenant (SC law).

For someone just starting out or even for a seasoned investor, mobile home investing is a sound, lucrative business.

Just my two cents

I appreciate your reply Jon. The comps on this house reflect market value of $230K. I'm asking $187K. Do you have any recommendations in possibly selling this house to an investor? I know the numbers probably don't fit for an investor.

This house is in an upscale area located in the foothills with mountain and lake views. It's 2560 sq. ft. main level is 10 rooms, 3 bedrooms, 3 baths. Has a 3 room finished walk-out basement.

This house could be used as a seasonal rental at approx. $1,000 week or an investor could do a rent-to-own in 13 months at market value.

I'm just not sure at this point how to get this house sold. I feel like I'm in the middle. Hold it for a while longer or reduce the price to an investor.

I don't agree with some of the post's here that "if your home is on the MLS and is not getting interest, then it is priced too high". I have my home on the MLS, flat -fee listing at $40K below market value. I think the problem is the price point..and that the properties selling in this area are below that, but I'm not going to give my house away just because the foreclosures are ruling the market right now.

Any CPA in this forum? I have a lease/option contract dated 9/08 and I send the payment directly to the bank, pay the property taxes, pay the hoa fee and had to also pay the sewer upgrade fee. I should be entitled to the tax credit, but it doesn't appear I can. Any thoughts?

Wondering if anyone would have any knowledge on how to sell an aged LLC. I have one that is three years old and thinking of selling it along with the domain name. Can't find any good information online.

You have to go the the DMV and request their form for "lost title". You will need the serial number for the mobile, the owners name, address of where mobile is located, etc. It doesn't cost much. The DMV will research the title and let you know if it is titled in your state and you can then apply for a duplicate title.

I would suggest you start with one single wide mobile home. Perhaps there is one for sale in the park you live in. The easiest way to make a fast profit is to find one cheap and sell it (flip) for a higher price.

Hey Chris,

I always ask the sub-contractor what does he charge by the hour because the cost for doing it by the "job" is determined by their hourly rate. I always do a walk-thru with the contractor and I make out a punch list...the contractor will determine how long it will take (man hours) and I can pretty much tell by my punch list how long it should take to complete the job. Compare the job quote by multiplying the manhours x hourly rate and see how close it is to their "by the job" quote. Sometimes I hire just one contractor and sometimes I hire a crew. I have it pretty much down pat. I have electricians for electrical, flooring guys for the floor covering, etc. etc. and I use them over and over again because they do the job right and their price is fair. Hope this helps. Debby

I live in the Upstate of SC. You have to have a licensed transporter move your mobile home and you have to obtain a moving permit from the county. Don't try to move one yourself, you will get into alot of trouble.You can't move a mobile home that is older than a 1976 (SC state law). If you're moving a mobile home into city limits you will also have to obtain a moving permit from the city. I manage a 20 acre mobile home park in Simpsonville, have some lots available if you need a place to put your mobile.