Deal analysis

42 lots, 39 rentals. Lots are scattered throughout a larger community built in the late 80s, four total owners in the community. One side of community is lot rent only, this appears to be the rental or lower class side. All I all, it was not as bad as I had anticipated. Don’t know how I should view the appearance, and one of the newer lots is on a lake. This community was build for trailers back in the. 80s and all streets maintained by the county. Favorable landlord rules, a police officers brother has lived in the park for 9 years.

county sewer and utilities, utilities billed directly, however was told water/sewer/trash billed monthly 45 dollars… County requires this billing process. This guy does all the maintenance and believes he has the people spoiled. He lived in park for 10 years, and has purchased a couple of trailers to put his daughter and son into before he exits the business.

My only issue is the lack of control over other lots. Evidentially one of the owners who has about 70 trailers is not actively renting of caring for his lots.

Trailers mostly 14 or 16 x 72 or 80. One 12 foot and one 10 foot. Rentals range from 335 to 500, an average of 400, so I place lot rents at 125. All have C AC/H.

Initial thoughts / value… Thanks

Infrastructure sounds likely good based on 1980s construction and county-maintained streets.  42x$125x70=$367,500, plus value of POHs.Buy all the materials off this website and come to the next bootcamp.  (I receive no compensation from anything sold off this website.)To your continued learning about this unique niche of real estate,-jl-

Yes infastructure should be good, the community was built around a lake especially for mobile homes. However there is some neglect is a park 30 years old.

I feel I cannot go wrong at 220k,
However what about the lack of titles.

I plan in attending next bootcamp close to my area.


Lack of titles is ‘no problem’ or at least ‘a very common problem.’  Search this forum for ‘lost titles’ and you’ll find several discussions on how to get replacement titles put in your name and be liable for none of the back taxes the previous owners are liable for.Good luck,-jl-

be very careful with this and know what the back taxes are. In some states the taxes due will be much higher than the home is worth. Like $10,000 on a home that is worth 5,000to get that title you have to clear the taxes…