My group is under contract to purchase a nice 20 lot MHP in Alabama. Every home on the lot is park-owned. Our primary aim is to own land-lease MHPs, so our thought is to send residents a letter as soon as we take over offering to sell them the homes (all cash or seller finance/payment program) and then just have them on a land-lease.
Homes are early 2000s, shingle roofs, seem to be in nice condition (we are visiting the property this weekend to verify). The park itself seems to be a very desirable one in the area.
Has anyone else tried this strategy before? We don’t anticipate having all 20 homes sold instantly, but we do expect at least a few bites initially, which will cut down on our maintenance and management expenses.