All Forum Posts by: Omar C.

When I get a home that needs lots of work I will typically rent it out for free for x months. with the contingency they will rehab of the home with their material and time.  I will lay out a plan for each week/month and if they are not complete I will ask for rent (full/reduced) or ask the tenant to leave/file for eviction.   What I find is they tenant who completes the rehab is more appreciative and takes better care of the home since they put their hard work into it.

Welcome Mark, lots of information.  Take it all in and make an informed decision.  

Marc as a MHP owner I have the same clause in my lease agreements. I don't allow trailers to be pulled and normally purchase them before they are even placed on sale. As Jim stated you are attempting to take money out of my pocket and if I offer the owner the same price you are offering the home owner doesn't lose and most importantly I don't lose.

I have heard some parks that have a move out fee and bond fee if the trailer is removed from the park, I haven't implemented it but I never really had a problem with trailer move outs.

Thanks everyone for the insight, I looked into the zoning and I'm ok since we are not within the city limits. I will have to file a new plan with new lots but from my understanding the county is willing to work with me.

Thanks Jim for the great tip on the Google Earth tool.

What are your thoughts on the newer ranch style mobile homes that come in 28x44 that are 3 bd 2 ba? They are about the same price, the transportation and setup will be more since it is a small double-wide. I think the illusion that it is a ranch style home rather than a typical mobile home may have a broader appeal. Once built out it would more closely resemble a subdivision than a mobile home park.

Forgot to include my typical lot size is 25 x 80

What are the typical lot sizes most of you have, I'm seeing 100 lots on 5 acres or less and that seems very tight. On 10 of my acres I have 50 pads that are somewhat spaced apart but I couldn't even imagine having close to 200 pads sharing the same space?

I'm in the process of changing my configuration of a majority of my park and if I can squeze in more lots I'm all for that.

Thank you Brad for the response.

I contacted 21st and they don't have any available used homes in my area.

As you stated, buying used homes and rehabbing them requires a lot of capital. One thing I don't want to do is own the trailer and tie up my capital, I really want the owner occupied units only with the tenant paying cash outright or a bank providing financing. That's one reason I was looking at 21st, do you know if Legacy will provide financing to the tenant or only to me?

Looking to fill in my MHP in northern IN and wanted to get everyone's perspective on using 21st Mortgage. With SAFE it appears to be an easy way to get new trailers into my park. Though it's not risk or cost free to me it seems the fastest way to bring up my occupancy rate rather than me bringing in a few trailers a year.

Any thoughts or other companies that I should look into?

TIA