Why not buy old park sub divide from 25 to 10 and sell

mobile home university
1

This topic is regarding the topic below “Buying and reviving old mobile home park”.

I have been giving this possible opportunity some more thought. . YES, the city, the city police, the community and the bank currently holding the note, want and need somebody and something to help improve the park.

I was thinking why can’t one sub divide from 25 lots down to 10 or 12 install nice mobile homes / Double wide’s and then sell lot and home.

Cost of park 72k divided into 10 = $ 7,200 per lot not including land improvements

The question is what would a nice used double wide cost to buy, transport and install

Where can I find used mobile homes for sale?

Thanks

Mike

2

I often wonder if what you are looking at in subdividing is going to be the future of the mobile home park business with fees for /salesoperating/managing being the norm, instead of rent collections. We see many of the parks in our area and in Florida that have converted to an “association” or condo model and many seem more stable than many of the rental communities I see. Many rental community parks are full of mobile homes that are 40 or even 50 years old, with no retailers around to replace…I can’t help but think that is far beyond what was considered their usable life span when new…But even given that , the condo market has seen a huge hit in the current real estate bust, so I doubt that there will be many of these conversions except in exceptional circumstances any time soon

But this industry has been in a downturn since the turn of the century (LOL) and in our area I do not see any signs of improvement in retail financing, commercial financing, retail lots opening or existing retail lots even STOCKING units. I have not seen any figures on floors built or particularly in single wides shipped that give me any reason to hope for a recovery any time soon. All these things are necessary for our business to prosper but insteaed I’m seeing more regulations and mandates that make our business both less profitable and more difficult to operate.

So I think that the time has come when thinking outside of the box and finding a new business model will be where our new members of the industry find their profit