how old is too old? And, 55+ vs. family parks? - Posted by Robin AZ

Posted by George AZ on February 26, 2001 at 03:04:35:

Hello Robin;
I have a few early 1960’s model mobiles as rentals and have found them to be relatively well built compared to those built a decade later. They have plywood floors vs chip board and the kitchens have better quality cabnits. If an older home has been well cared for, as they frequently are in a retirement environment, it can be in far superior condition than a much newer home that had Harleys parked in the living room and engines in the bath tub for 6 months. Not to mention the Saturday night fist fights in the living room spilling thru the wall into the bedroom. Altho older homes are not ideal there is still money to be made.
In your case the value is probably entirely found in the ability to keep the Wobbly where it is i.e. you are selling the location. The minute you must move the mobile it will probably have a negative value. Many counties in AZ will not allow pre June of 1976 homes to be brought in from elsewhere and often in-county mobiles that are moved must be rehabed to HUD standards before being relocated assuming you can indeed find a place for them.

Of course you can always do what I did and buy a semi vacant park in the boondocks and attempt to lure in occupants (preferably human) for the mobiles you brought in for RTO or Lonnie style financing.

I assume that you have Lonnie’s books and have read them. He is a very nice man and willing to help with suggestions. Earnst’s material is also very helpful.

Where are you in AZ?


how old is too old? And, 55+ vs. family parks? - Posted by Robin AZ

Posted by Robin AZ on February 25, 2001 at 23:52:20:

Hi everyone!

I was wondering what your experiences have been with homes that are older than the 1970’s+ homes Lonnie recommends? I went to see a 1954 today- I didn’t think it would be worth looking at, but I had never been to that park before, so I went. It was in really good shape. Definitely small (44 x 8 with an add-on living room/kitchen, 1ba), but cute. All hardwood floors inside, nice little yard. Great, big park with activities, pool, club house in nice area. What do you think? She wants $1000 obo, she said if she doesn’t sell it soon she’ll abandon it. I asked if it could stay in the park (she said yes, but I still have to check) and she said there are no back taxes or lot rent (also have to check).

Also, it’s in a senior park-- but there are a lot of seniors in AZ! I’m not sure how much that will limit my buyer options. And-- can I buy a mh if I’M not 55, provided I sell it to someone who is? Any advice? I’m trying to find my first deal, but I don’t want my excitement to cause me to make a bad deal!