All Forum Posts by: Samuel Coronado

 I'm doing them at a fair rate (every 4 months). They are hard to come  but still out there in droves especially as the price of housing goes up like crazy! 

 That does help thank you. I got my start working with park managers to get tenants into their empty homes by buying the property and then subletting it. It's interesting to see things more from the park owner perspective. I guess the priority should be on getting tenants on and having the infrastructure built as fast as possible, then playing the long game with slowly raising lot rents. I think delaying the lot rent by a least a year is the move. I'm also used to dealing with singlewides and not doublewides. I'm going to touch base back with the agent today. I have a contractor coming out this weekend and doing some estimates. I've had 10k thrown at me before without the septic. With septic and hookups, I'm thinking 16k is about right. If it comes in lower, that will be a treat but I'm not counting on it. 

@Dave Rav just their lot. And that's a thought. I actually have an agent who is slated to take over management once everything is built out. That agent lives in the neighborhood and everything too, which was on my preferred list of attributes so the day to day can be more closely monitored. My experience is once these people set up, it's very rare for them to move because of the cost unless they have a great deal on new land.

@Hendra Wijaya some of my properties I pay water for the tenants because it's not economical to submeter vs just paying the 250 a month for a 6 plex. You also avoid liens in certain places.

Doing this now. The best bet is to establish relationships with the local credit unions. I had to call about 5 and got yeses from 2 of them with really different terms.

I own 20 acres of land with two road frontages. The plan was always to do a trailer park-type community. I have someone who is interested in setting up their double wide on my land and rolling the infrastructure costs into the 25 year loan that will become their mortgage. The question is how to do this for a win-win. They'll be footing a lot of the bill up front (maybe $16k, depending where the contractor bids land). Do I delay lot rent for a bit, keep it reduced for so many years, etc. Any clue on how to do this? Typical lot rent would be 400-500 a month for a double wide in this area. It would be about 2.5 years of lot rent worth of work before breaking even and beginning to profit. This double wide would be separate from the larger park, with a separate lot, road frontage, private drive, bigger yard, etc. 

How did this work out for you? I'm about to do some similar things. 

I am interested in this. Do you care where the down payment funds come from or can they be from outside investors? What are your document requirements? How much would the interest rate be on an older mobile home park? 

What are you looking for specifically? I know one guy who can do quite a bit. They have a builder's license, can run wire, plumbing, drywall, etc. They can do roofing, gutters, etc. Decades of experience from a multi-generation family business. 

 Haha. You can if you partner with me.