I recently invested in a drug infested park that happens to be in a fantastic area. Am in process of evicting/re-homing about 1/2 of the tenants. 2 homes were not salvageable due to a fire. Received quotes from $6500 and up to remove them. Found that it was much more cost effective to rent a dumpster and dissemble. The workmen were really excited about taking the aluminum to be recycled.
Evicting so many is creating a lot of opportunity. Looking at re-arranging home sites to maximize density. (current park is only at about 60% of density that zoning allows). Also looking at Geothermal as a clean/GREEN way to help tenants with heat and AC. (Hoping to offset costs with higher lot rents)
Call me crazy but I’m even looking into Solar Carports. They aren’t cheap but I can hold a note for them and not worry about Dodd Frank compliance.
Has anyone explored Tiny Homes? They seem to attract a more affluent demographic.
You’re not crazy – we take on projects like that frequently. You can get some great deals when the property is nasty but the location is phenomenal. You are totally better off tearing those homes down and putting them in a dumpster as there’s a good chance they’d break apart while being driven to the dump and you’d be held liable for any damages. I’ve not used solar carports, but the idea sounds interesting. I do, however, have some basic knowledge of tiny homes and here’s the problem with that. Tiny homes (except for those sold from regular manufacturers like Clayton) are not HUD code (they lack the seal required by HUD). As a result, you can’t get the power turned on when they are delivered because the city inspector won’t green tag the home without the HUD seal. The other problem with tiny homes is that they are extremely expensive for the amount of square footage. If you want to attract classier people, you might consider some of the front-entry home with front porches that face the street. These look similar to tiny homes but are much less expensive per square foot and have HUD seals. You can buy them at most major manufacturers including Clayton.
@HollyH, I love all that innovative stuff too… but, I refrain from doing a lot of it simply because in my business model… I don’t see the benefit to me as the owner of the park. Since my tenants pay their own utilities the geo-thermal, solar power investment for the lots simply doesn’t pay off in my opinion. NOW… that said… .my park buildings… definitely. I have a solar powered WiFi system. I provide free basic WiFi for the park and THAT is solar powered. My store/office will be solar powered soon as well. For the lots… I have upgraded to 200AMP new power stations and am installing new pvc schedule 40 water lines and meters. Carports, sheds, etc are taxed by the county here so I allow the tenants to install a suitable shed, awning or carport in a mutually agreed upon location since they pay the property tax on that and their home. I pay the land taxes and for my buildings, hookups, lot pads and park owned units.
Thank you Frank! In this area Tiny homes are allowed as long as they are not ‘permanent’ residences. This area is about a 1/2 mile outside city limits (has city water and sewer) so even short term rentals are allowed. That said, I’m excited to explore the front entry with porches. Had not even considered that - thank you so much for the suggestion. It sounds like a great idea - maybe less like a Pet Rock than Tiny Homes.
Thanks again. I know you are a busy man and feel especially grateful that you took the time to respond.
Thank you Jsmith! I’m hoping it will translate into higher lot rents. The culture is similar to Boulder or Austin so I’m hoping it will fly. It is a risk though. I appreciate the suggestion of solar wifi. Another great idea to explore!
Update. I came to my senses and am back to just renting the dirt. The pie in the sky thoughts were fun but reality sunk in and I’m back to just renting the dirt.
Congratulations on your new opportunity. It’s fantastic that you’re looking into different solar options. Have you thought about solar security lighting or pedestrian lighting?
Studies show that good quality lighting improves public safety by reducing crime and traffic accidents. Solar alternatives to outdoor lighting offer a significant value proposition for mobile home parks like yours.
If you are looking for added safety and security in your park, you may want to consider installing some Gama Sonic solar security lighting. Our Security Light with Motion Sensors currently range in price from $130-$200 and have motion activation all night. The GS-201 emits 1440 lumens of light and the GS-101 emits 720 lumens of light.
We also have some beautiful pedestrian lighting options. For example, our brand-new commercial grade Centennial Post Light (model number GS-100) is 900 lumens (roughly 150W). It covers a 40’ diameter spread of light on a 10’ pole. It has a sleek, modern look, but we also offer more traditional style lamps.
Please reach out Matt Cohen (Director, Commercial Sales for Gama Sonic Solar Lighting, matt@gamasonic.com) if you’d like more information. Good luck with everything!