Buying in a 55+ Community?


#1

Hello all,

Im looking into buying a mobile home as a first “real estate” investment. Okay, its not actual real estate but it is an income generator and a great first buy! Anyhow, Im only 20 years old and the unit is in a 55+ community. All I want to do is buy it and then sell it on a note, so will the management give me any trouble?

Thank you for your help.


#2

but in FL this can be a real prob. 55 parks are usually expensive (450-585 per month lot rent) and very hard to qualify new tenants.

Holding costs can eat your lunch.

Greg


#3

Have you read Lonnie’s book?

He recommends staying away from

the senior parks when you’re starting out.

55+ is a tough market.

You are not looking for a trailer,

you are looking for a motivated seller.

I work 55+ parks in my area,

but it was a tough learning experience.