All Forum Posts by: P. Ian Arbogast

Looking to install water meters in our mobile home community in SW Va. Does anyone have a suggestion for which ones are best? Looked at Metron and Guardian but interested in the forum’s thoughts on both or others. Thanks. 

Try Facebook marketplace. Had pretty good luck there. 

@craig Sloan 

@Craig Sloan Thanks. I’ve looked at a few communities lately and it’s enticing to look at the potential of the community but only if I can lease to own the POHs. Maybe I’ll take another look. 

@Craig Sloan  Thanks for your response. How was the process of getting the existing tenants to agree to the lease to own vs being a pure renter?  Or did you have to terminate existing leases to get the renters out and new tenants in?  

I'm not an attorney but I believe you can evict them if they stop paying the note, even if they are still paying the lot rent.  Just notify them, per the terms of the lease of course (ours is 30 days notice on month-to-month contracts), that you are exercising your option to terminate the lease.  They will either get caught up on the note payment or they will be forced to move. 

Thanks Mindy. I've heard owners that simply tell the residents they don't rent homes and therefore the residents have to either sign the new RTO or the lease will not be renewed. Not sure that's the best route for us to go but I guess it works for some. I find that logic doesn't appeal to folks in these communities even when you can show them that it saves them money vs. renting long term.

Jefferson Lilly was interviewed on episode 111 and Kevin Bupp was on episode 246

Good afternoon. I'm new to BP and wanted to float a question to those of you more experienced investors. We own a couple of smaller Mobile Home Communities in VA where the residents own the homes and we own the land. We are looking to acquire more communities but it seems most of the communities we're assessing in the Southeast/Midwest come with significant park owned homes (POH). Has anyone had success buying, and subsequently converting, a predominantly POH community to a lot rent only community through contracts or RTO? Thanks for taking the time to respond.

Andriy -

I’m looking at some property in Milledgeville and was curious if you bought anything there. I’m new to BP and I’m looking for some local knowledge on the area. Deal looks good on the surface but as familiar with the area. 

Thanks. 

Ian