Posted by Lonnie on June 05, 2003 at 09:31:57:
Hi Patrick,
Don?t worry about the competition, there?s enough business for all of us. In fact, my local ?competitors? and I throw deals to each other. Give me a call when you get here and I?ll introduce you to a couple of them and you can join the group.
Also, I?d like to invite you to attend our local RE Group, Tidewater Real Estate Investors Group (TRIG). Great group of folks and we meet every month. Come on up and join us.
Best wishes,
Lonnie
Chesapeake VA land/home development - Posted by Patrick Sears
Posted by Patrick Sears on June 03, 2003 at 16:47:49:
Hello,
Maybe Lonnie or some of you other Virginia boys can answer these questions. I currently live in Texas & just got back from visiting the Hampton Roads area, where my wife wants to move us to. I’ve read all the posts & I think I would like to start developing lots or acreage using manufactured housing for land/home pakages for sale or rent. So my questions are:
Compered to Texas, I really did’nt see much in the way of mobiles in the areas of southern Virginia Beach, Chesapeake, York County, or Suffolk. Are they frowned upon there by people or the county zoning boards?
Do I need to look even farther out (Southhampton, Currituck?)
Where would you suggest I look? It seems like open land is at a premium there compared to Texas, where decent, reasonably cheap acreage can still be found.
What are the growth prospects for these areas? Do you think classy MH developments would sell?
Thanks!
Psears
Re: Chesapeake VA land/home development - Posted by Lonnie
Posted by Lonnie on June 04, 2003 at 10:32:52:
Hi Patrick,
Before you entertain the idea of developing MH lots/parks, do an archive search and read the articles by Ernest Tew & Ray Alcorn concerning this subject. Once you understand what?s involved in such a venture, I think you will agree that it?s a bad idea in the vast majority of cases. I certainly do. It?s definitely not an on the job training program for the new kid on the block.
If I may ask, what is your primary goal? If it?s to make money, there are much more simple and easier ways. Consider buying/selling/financing MH?s that are already in parks. You don?t have to buy the dirt. If it?s a park you want, then buy an existing park where someone else has already spent their time, money and frustration fighting city/county officials. Only to finally wind up some day way off in the future, many dollars in debt, with a park that?s 100% vacant.
But in the event you still want to develop lots/parks you will have to get in the rural areas, (outside city boundaries) to find zoning that allow it. If you can do that, then figure the cost of the land, well, septic, roads, electric, etc. The list goes on & on. And guess what? Each phase of development requires a local ?Government Inspector?. Have I turned you off from wanting to develop lots & parks? I hope so.
Patrick, if you didn?t see any MH parks around here, you must have been driving real fast. Slow down next time and take a better look. Go to www.mobilehomeparkstore.com/list . You will get a ton of parks in VA, including many in my neck of the woods.
Good luck, and welcome to VA?you?ll love it. It?s a very prosperous area with unlimited opportunities.
Lonnie
Re: Chesapeake VA land/home development - Posted by Patrick Sears
Posted by Patrick Sears on June 04, 2003 at 20:24:01:
Hi Lonnie!
Thanks for the reply. I wasn’t planning on building an entire park from scratch, precisely because of what has been said on this board on the subject, but I did’nt think that a single lot ( ala Dr Craig Whistler) would be as difficult-maybe I’m wrong.
I did happen to see some trailer parks while I was driving around; some decent, many crappy. I kinda put aside the “Lonnie Deal” idea though because I figured I would be competing against the “master” himself, Lonnie Scruggs!! Should I be concerned? Or is there enough to go around for everyone out there?
Thanks!
Patrick Sears