mobile hm park

need some advise when plan to buy mobile home park. Thanks much.
In Buying Property - Asked by Komala V. - Jun 6, 2010
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Answer(s)

Randal C.
Broker/Agent
El Paso, TX

What kind of advise were you in search of? Do you have financing available? How much down payment do you have? Where do you want to look?

Jun 6, 2010
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Joel O.
Broker/Agent
Canton, GA

Many mobile home parks are being driven out by cities and counties. The reason is many renters are people moving from place to place for various reasons. These properties also represent a very low source of revenue for a tax base to the cities and counties.They also are a thorn in the side of politicians with constant complaints and phone calls from concerned citizens.
Now some more rural or less developed areas still have many mobile home parks that exist today. As an exit strategy you would want to know is the land in the path of the future land use plan and is it slated for commercial?
Also does the site you want to purchase lie on an existing or future corner location?
A friend of our has been in the mobile home business for over 40 years and they have about 70 plus trailers.The business isn't what it used to be which is why later selling the land for redevelopment is a key strategy. Legally cities and counties can't get rid of mobile home parks because they want to but they can find ways to increase impact fees,sewer tap fees etc. to make the owners want to sell to a developer. If you need assistance in site analysis in Georgia let me know.

Jun 7, 2010
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