I stumbled across an ad for a land lot in a nearby town with a decent mobile home already on it for $8,000 cash.
Is it possible for me to buy this lot with home, and turn around and sell just the house for $8,000 self-financed of course and charge lot rent forever?
It would seem people would pay higher lot rent to not be in the park. Plus, I don’t have to submeter. I’m getting the land with house for cheaper than I can buy and move most mobile homes to my current park. Has anyone ever done this?
I looked into this, and the biggest issue is that your Buyer would have neighbors on both sides of them who own the home and the land, which may be a turn off for them. You’re looking for a Park tenant in a community full of land owners, which is may be more difficult to find.
You also cannot control the behavior of the adjacent neighbors. If they decide they want to Park 9 cars in the yard and have aggressive breed dogs you cannot address that.
I think it can be done for sure, but the model is odd and may only work in certain markets - I guess if there is enough demand I would give a try and if it didn’t work out owner finance the land + home.