All Forum Posts by: Paul Sofia

Mobile homes (manufactured homes) depreciate when they are not converted to real property(affixed to land and recorded at the Register of Deeds and title being surrendered) besides normal depreciation of wear and tear. If it is real property, it will adjust as the market adjusts. Mobile homes in parks depreciate because they are personal property (titled). Regardless, it's still a mobile home is still a SFR.

  You can get shady shady clientele no matter what you are renting.  It's all about how you screen your prospective tenants.

I would strongly suggest to educate yourself in the MHP space prior to purchasing any MHP.  Look into MHP University.  

Unfortunately, there is not a big difference in pricing.  You can get them done much quicker than a site built, though.

I deal in mods on both the retail end and specs.  Currently I am doing specs just outside of Charlotte and retail throughout the state.

I don't know of any lender that would allow a construction loan during construction.  Needs to be done prior.  Are you looking to do a spec home or are you in fact trying to sell a speculative investment to someone else with their resources?

It doesn't matter when the home was built.  As long as the builder was in the guidelines of the setbacks, not much you can do.  If there was no deeded easement recorded, you may have a hard time suing anyone.   If there is one, then the attorney that closed your piece of property would have a problem on his/her hands, if not, you can sue the town that owns the sewer line.    I have come come across this more than once.  I have found some by mistake due to having to dig footers deeper than normal to get to solid ground.  I am getting ready to build a few specs on a newly acquired parcel where there is the same issue.  

Cages work as Tom suggested.  I have used several types....the best I found were from an individual who made them out of cast iron.

I would suggest that before you buy any park, get educated in this space.  Mobile Home Park University would be a great pace to start.  They have weekend boot camps that you can attend. You will gain a ton of knowledge.  Invest in yourself first.

Where is the park located?

The mobile home is personal property if it is not deeded with the land.  If title is surrendered and home deeded to property, it becomes real property and the home would appreciate in value in an appreciated market.