Posted by Brian H. ¶ on February 09, 2005 at 12:59:37:
Dave–Check the archives on this–several posts from people who logically think this would be great…only to find that (in most cases) it’s cost prohibitive in today’s market. Good luck. Regards, Brian H. ¶
Building a MHP from scratch - Posted by DSmith
Posted by DSmith on February 09, 2005 at 12:45:25:
Hi everyone. I just found this site and think it?s fantastic. I?ve finally found a place to ask about mobile home investing. I?ve done a few SFH deals, but it looks like there is an opportunity for greater cash flow in MH?s.
I was thinking about building a mobile home park from scratch (20-30 units). I would buy a few acres, improve it (septic, water, etc), and start buying MHs, which I would sell or rent. This seems to be a cheaper option (I haven?t actually priced it, I?m just guessing) than buying and existing park.
Has anyone here ever done something like this? What are the plusses and minuses of doing this as opposed to buying an existing park. Would financing be more of an issue? Or is it better to just buy MHs in existing parks and resell them with owner financing?
Thanks for your help.
Re: Building a MHP from scratch - Posted by Gary
Posted by Gary on February 09, 2005 at 23:00:47:
About every 2 weeks a post appears with this same question. I truly wish some of you would quit talking about building a park from raw land and actually do it. That way when you lose your butts I can come along, finish it up and make some money.