buying the land - Posted by Christine Karas

Posted by Chris Karas on May 14, 2000 at 19:55:50:

Doug those mobiles look nicer than my house. I don’t even have a 2 car garage and a balcony. Unfortunately the neighborhood of this park is not as nice to sustain such an expensive home. Even the concrete homes are only selling for 25K -40K. People in my town are scared of mobiles since our last big hurricane. I’m afraid they wouldn’t buy such a nice home. Thanks for the post.

buying the land - Posted by Christine Karas

Posted by Christine Karas on May 12, 2000 at 18:59:41:

I have located a mobile home lot for sale in one of those condo parks and there is already a mobile home on it that is owned by the tenant. They are paying lot rent of $250 a month and they are paying for their own water. The price is $15,000. What do you guys think? Should I buy it.
The lot is in an older park where the dimensions are 30 x 60. Probably couldn’t replace it with a new home if something happened to this home unless I moved in one from somewhere else in the park or from another park. Any input is appreciated.
I am anxious to get started but I am still not a licensed dealer so with this deal I don’t have to be yet.

Re: buying the land - Posted by Lonnie

Posted by Lonnie on May 12, 2000 at 19:53:54:

Hi Chris,

Are you sure of the lot size?30 x 60? If so, that’s an extremely short lot and would severely limit your ability to replace the present home. Otherwise, it would be a good investment. The price and rents are similar to the lots I have. Double check the size.


Re: buying the land - Posted by Chris Karas

Posted by Chris Karas on May 12, 2000 at 21:18:23:

Unfortunately the lots are small in this park because it used to be a snowbird park that was built in the 50’s. The actual lot sizes are 30 x 30 and this home is on a double lot. The park was used for RV’s for Canadians. There are still alot of Canadians in the park trying to sell their vacant land but you can only put a park model on these lots. I checked. Anyway if you buy 3 or 4 lots together then maybe you can put a mobile on them. Thanks for the post Lonnie.

Re: buying the land - Posted by DougO(NM)

Posted by DougO(NM) on May 13, 2000 at 15:11:03:

Are there a bunch of these folks trying to sell their lots ? Is there alot of demand? If not, perhaps you might position yourself as the solution to their problems. And in order to do that, of course you will have to cut a “deal” with them. By buying up lots as you can( at very favorable, perhaps “cash-now” prices), then when you can, re-configure several into larger lots, you might do ok. Depending where you are located,the neighborhood surrounding this place, and your market in general, there are some manufacturers making 2 story units that will fit nicely on these size lots. This would be a bigger project, but one way to re-do this property if the market warrants it.

buying the land - Posted by Christine Karas

Posted by Christine Karas on May 13, 2000 at 19:13:42:

There are alot of vacant lots for sale and they are all 30 x 30. Some of them are contiguous and some are not. There is a sign up there that looks like it has been there for 3 years at least. The sun has faded it so bad that I am not sure even what the phone number is on the sign. There is an investor in that park that is buying up things for cash extremely cheap. He owns about 30 lots in there at least. He also has purchased some of the CBS homes that are mixed in there with the mobiles. He must know something that I don’t. Even with him buying everything up there is still about 20 homes on the market. About 10 vacant lots for sale as well. I know that the EPA is trying to force the owners to hook up to sewer to save the mangroves that are nearby and that has everyone real nervous because they are afraid of a sewer assessment so I think that that is why there is such a selling frenzy in there. I know some owners have said that they are hoping the Federal gov’t buys them out. Anyway thanks for the 2 story idea. I’ll look into it.

Re: buying the land - Posted by DougO(NM)

Posted by DougO(NM) on May 14, 2000 at 09:29:17:

Sounds like someone else has a plan for this place! Here is a picture of one of those 2 Story units I spoke of;