Empty mobile home park


#1

I have been reading Lonnie Scruggs books and CD’s and Ernest Tew and Steve Case’s Mobile Homes course. I haven’t done anything yet but from everything I have read, mobile homes sound like a great investment. I haven’t even done anything about licensing yet.

It sounds like the first step is of course purchasing a mobile home(s) to re-sell. Where I live I have found what I think is a unique opportunity and wanted to get some opinion. I live in the Central Florida Area and there is a +55 mobile home park that has been purchased by a developer and they are in the process of evicting all the residents. I didn’t even think about this until today when I ate a restaurant that is right beside the park and lo and behold, most of the home are abandoned.

My questions are, would this be a good place to try and purchase a mobile home(s) and then move it to another park? Would I need to get licensing to do this? And is there anyone in the Central Florida area that would be willing to work with me and show me the ropes for “a piece of the action?”

Thanks for all your help.

Larry


#2

I too have bought the book Ernest Tew & Steve Case’s training course however, I’ve just bought it yesterday so, I am anxiously waiting for it to arrive; however while waiting I have too many questions and no answers.

What do you mean by “I haven’t even done anything about licensing yet.” What license? Sure hope, it’s not the Real Estate License !!!


#3

The licensing I am referring to is in Florida you are supposed to have a mobile home dealer’s license to buy and sell mobile homes.


#4

Thanks for the info. I will have to check and see what is require here where I am then, I suppose you will need a license in each state where you would buy and sell mobile homes?


#5

Larry,

There are many members on this forum that are much more knowledgable than I. But, I will share my 2 cents worth. If you have never dealt with buying and moving a mobile home, the purchasing of mobile homes that must be moved is a major undertaking. It could possibly get you discouraged with the MH business. For your first MH project, I would suggest you do a “Lonnie Deal” by purchasing a MH that does not have to be moved.

I am in Alabama, and the moving costs for a break-down, pull and drop, for a SW is around $800.00. The tie-down including materials and labor is $800.00 more. This does not include the hook-up of EL, WT, Sewer, underpinning.

There are many options to consider. If you have a holding area that will not cost you monthly fees, so you will not be pushed for time for selling them, you might do fine. You can speak with owners and see how quickly the MH must be moved. You may possibly have time to sell several before they are moved. Also, as you mentioned, maybe you can find a seasoned MH investor as a partner. You might speak with a local MH Park to see if they would be willing to partner.

I have in no way included all options. This is just a few things to think about. Maybe this has helped a little.