How do you find out the minimum lot size to sell the house?
What do you do if you have to get rid of three occupied mobile homes in order to sell the house?
Evict?
So that is 4 tenants and 3 mobile homes you would lose to sell the house,
still worth it?
Benefits to selling the house?
No maintenance anymore.
Use the money to pay down the park.
Lower taxes on the MHP that is left.
Did I miss anything?
Thanks in advance for your advice…
Subdividing and selling off houses is always a good idea if they are separate from the park. There’s more money in selling than trying to be a SFH landlord. However, you have to look at the impact to your park. If you are going to lose three lots, that might mean losing $60,000 to $100,000+ of value in some parks. What would this house sell for?
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That was a good question.
It is a 4 bedroom 2 bathroom house
but I guess would sell for only $80,000 to $150,000.
All the tenants have been there a while
house $650 a month and lot rents $300 a month.
So selling the house does not seem like a good idea.
I was looking for some cash to pay down the loan, have a reserve, tar the road and buy the ajoining vacant land.