I am fairly new in the business. I own a 79 space park in Texas with 24 empty spaces. It’s in a small rural city but the rental market is very robust. Conversely, the residents that buy homes generally have their own land. I sunk all my available capital in down payment and cosmetic improvements. I can’t refi because I have a hideous prepay lockout. Any suggestions on how to get mobile homes on my empty lots?
I hold a below market option on the adjacent 12 acres which has utilities and roads and is layed out with 75 pads. The property is overgrown and needs to be cleared. I’m thinking maybe I can leverage this property to reach my goals in phase one.
about a pretty cool deal they worked out with Clayton Homes (a great manufaturer). This facility is designed for owners needing wholesale homes to fill a Park!
Clayton Bank has several programs to help park owners fill vacant lots. Look on the links page of the website for R.E. Hunter, LLC. Steve Waite is the connection with Clayton. I’m in the process of working with them on two parks.
Another idea is to use local investors who are currently doing “Lonnie deals”. I’ve got one investor buying new homes to place in one of my parks and it is working out very well. He gets the profits on the sale of the home and we get the lot rent.
…Greg, I hope you are doing well my friend. We missed you in Orlando.
doin’ just fine. My son in St. Louis got married the Saturday of MHM. that went well and sounds like MHM did also. Your energy amazes me Steve…I am taking the summer off…in about an hour am at the Lake (home) for jet ski time. You and your family have a safe and GREAT 4th Steve!
I’ve located 20-2005 single wide mobile homes below wholesale that need placing on lots. The avg. price is between $5600 to $9800. May be able to place 20 or more with some kind of partnership.
I would be interested in more info on these! Sizes/Bed/Bath/Where located/Can they be delivered and set up in NC? Let me know!
I’ve got 2 parks that need scores of single wides placed on them. Please contact me with more info. Maybe a deal can be worked out? I’m in Texas- cell#972-693-3200