All Forum Posts by: Sari Fulbright

@Eric James no they do not. 

@Mike Reynolds

@Mike Reynolds - I would appreciate any help! I feel the same way that we can turn it around and add a lot of value but I just want to make sure I don't get in over my head. 

@Cedric Volkmer - I plan on having the infrastructure inspected. It is on city sewer but a private well. There is an old house on the property that is probably a tear down so that potentially could become another space? I just got the call about it yesterday so I haven't done a deep dive into the property yet. For RV's I'd say the season would be spring - late fall (hunting season). 

The current owner has no interest in letting anyone new into the park. There have been people wanting to move into the park for years but he has no interest in being a landlord. I believe he inherited the property. I believe it is around $250 / space. 

I have the opportunity to buy a mobile home park where I live. It has a lot of potential, but I just don't know if it is a worthwhile investment as is. It has 10 mobile home spaces and 6 rv spaces. It only currently has 3 tenants - but not for lack of people wanting spaces, because of an absentee owner. Average lot rent for the area is $250-$300 / month. The owner is asking $250,000 for the park. The owner says the infrastructure is in good shape but I have not dove into my due diligence yet. Any thoughts or advice? Thanks!

Hello,

Early this year I invested in 12 lots in the small town where I live. (Population approx 200 people). Originally the plan was to put in mobiles on the lots for rentals, as this area is in desperate need of rentals and homes for sale. The city council didn't like the sound of that idea so we decided to try building spec houses. Well we got started right around the same time as the pandemic got going and as I am sure you all know, prices went through the roof on building materials. Needless to say, unless prices go down, the spec houses are not going to be an option for us. So that is where you smart people come in... any ideas on something else we could do with this property to make it income producing? I'd really like to start getting some money back on this property... Thanks for your ideas and advice!