Absentee Owner - Posted by Randy

Posted by John on May 30, 2005 at 06:07:43:

With absentee ownership, which is the rule with larger properties, the crictical issue is the strength of your management team. Generally this means a larger property. My own best guess is that absentee ownership means a park of at least 80 spaces. You can get by with just a strong on-site manager if you start with high occupancy and a park of not more than 150 spaces. If you need to overcome occupancy issues or are looking at Lonnie type deals to fill a park or have rental units in the park, you need a park manager, a maintenance person and some sort of sales person/assistant manager. You might also want to use a local bookkeeper. You could also use a professional mobile park management company - these are available. A large company that does mobile park management is based in Atlanta.

Absentee ownership is quite a lot simpler for a mobile park compared to apartments, if there are no rentals or Lonnie type things going on. Still the issue is the manager.

Let us know how things go for you. Am also looking at parks in Georgia. Currently own in Louisiana.

Absentee Owner - Posted by Randy

Posted by Randy on May 29, 2005 at 17:59:37:

I am in my 1031 ID period having sold some apartment buildings in CA, and have found some MHPs in Georgia that look interesting. Question: is it feasable to be an absentee owner of a MHP?