Help for the Starter


#1

Hi Folks,

I’m just getting started in the buying of mobile homes and reselling with financing. I’ve been reading and gathering as much information as I can on the business/industry but of course have lots of questions. I’ve been looking at parks in my area for the last several weeks trying to figure out the climate in my area which has very expensive real estate prices. So, here are some questions:

Lots of 55+ parks in my area. Are 55+ parks good/easy places for resale? Do 55+ parks even allow someone under 55 to purchase homes in the park for resale? It appears that about 98% of homes for sale in the 55+ parks in my area are using Real Estate agents to sell them. This seems really unusual to me that RE agents would even bother with MH’s with the average price of a 2BR condo in my area selling for $300,000 and selling very fast. About the lowest prices you see for 60’s- 70’s singlewides are in the $6,000-$12,000 range. It’s better than nothing but it would hardly seem worth the commission for an agent to advertise/flyers/open houses/etc.

It also seems that MH’s FSBO advertised in our “Little Nickle” paper are more expensive then the MLS MH’s. Not quite sure of what to make of that one.

I’ll start with those questions. Any help/comments would be very helpful. Thank you all!


#2

Carsten,

It has been my experience that buying and selling MHs in senior parks can be difficult. Are there any family parks in your area? If so, I would pursue the homes located in these type of communities.

We hope to see you in Orlando. I love being around mobile home people…LOL. Just got home from the MH Bootcamp in San Angelo and I’m still excited about the people we met and the great things they are going to do.

Keep us abreast on your progress.

Steve