How to sell fixer-upper POH's in Florida?

Greetings from a long-term on- and off-again participant,

I have some park owned homes that are definitely fixer-uppers. I would like to sell them and prospective tenants have indicated an interest in buying. I am concerned mostly about tenants either destroying them if things go badly, moving them out of the park, or selling them to unapproved people. As has been noted in this forum there are also concerns about Dodd/Frank. The park went through foreclosure and all titles have been retired. I was considering giving them a bill of sale with the park owning 10% of the trailer so that nothing serious could be done without management’s consent. I am really willing to almost give them away just to get the lot rent.

One screening method I have not tried is using credit scores and wondering if this will sort out the problem tenant owners from the good ones. I have had almost every type of imaginable problem in my parks here in Central Florida so I am being very careful before I move to this new mode operating for me–versus just renting them out. Please, feel free to give any contrarian advice or shoot holes in my ideas. Things are easy to get into and very hard to get out of. I want to be legal and sane when all this gets done. Thanks in advance for your ideas and input.

As per your Dodd Frank concerns, I’d get a copy of the MHU Home Study Course if you haven’t already. It covers the Rent Credit program and has applicable forms included as part of the purchase so that you can turn renters into owners using a cash-based program.

There are several threads about selling handyman specials. Lots of solutions and buyer screening techniques as part of those, such as working with Lonnie Dealers, using performance criteria (e.g. must fix up before move-in), long term lot leases, etc. You’ll likely need to test a couple different methods to see what works well for your demographics and geographic area.


Thanks on your ideas and input. I actually got started on pretty much all your suggestions this morning. Bringing back mobile homes from a deteriorated state is tiring. I am starting to think I want more of those concrete block homes which are so popular here in Central Florida. Anyway, I have what I have so I will plug away until it gets done. Thanks again. Mike