Hello - In a metro of 1 million I see crazy high demand for affordable housing.
I assume if I budget $5-$10K for repairs on 80’s mobile homes that I could sell these for $20-$30K rather easily. The plan would be to paint them, fix anything broken add new flooring if needed and generally make them look really nice inside.
It is nearly impossible to buy any home for less than $150K in this market and I would guess these would sell quickly in the $20-$30K range but want to ask the experts here.
Toben.
Here in the Pacific NW we have also have serious affordable housing crunch. I have had dealings with these guys at PNW Mobile Homes and they seem to have good thing going doing exactly what you want to try. Pat is a real nice guy if you ever want to give them a call.
Hi!
What metro are you in?
Here in PNW yea its fast.
Market as a handy man special, fixer upper, or DIY project, etc. and put buyer to verify all repairs.
Sign in the front window of each for sale, signs in the front of the park to drive traffic, and flyer your existing residents and ask them if they know anyone looking that would want to buy. Old tricks are the fastest tricks.
Depending on the area, that price point should flip fast but if you have a very low income area / low job area, or many people start showing up telling you they are only on SSI you will need to reconsider marketing targets because they will be struggling to cover home payment plus lot rent and repairs.
Our market is very strong as well. You can probably push your prices even higher and attract higher quality applicants assuming the quality of your community is to their standards. What you do not want is applicants seeking to live beyond their means.
The market seemes very strong at this time and well suited for owners to upgrade their tenant base.
Highly recommend using a Realtor or at least giving it a shot! For many years has done a wonderful job of bringing high quality residents into our parks at a fraction of the effort of FB ads, etc.