Posted by Tony Colella on November 08, 2004 at 20:33:44:
This has happened all across the country (parks closing that is) and a large number of homes that need moving and few places to put them.
The opportunity here is to find and control the places to put the nicer, move-able homes. This might mean tying up lots in neighboring parks or better yet, buying or creating your own mobile ready lots.
If you were able to create your own lots, you will very likely have some ready tenants and a nice, passive real estate income stream (just like Lonnie’s condo lots).
Posted by Mark (Or) on November 08, 2004 at 20:28:27:
A park is closing a few miles from my home. It is owned by a large retirement center and will be developed into some type of assisted living facility.
There are 40 some spaces, the majority being mobiles from the 60s to the 80s. Some fairly nice, some dumps. Also probably a dozen rvs.
The tenants were told about six years ago that this would eventually happen. They were given notice a few days ago that they have one year to relocate. The tenants who were there prior to six years ago will recieve $2,000 each for moving expenses. The rest get nothing.
I am trying to use the mantra of “find a need and fill it” to find opportunity here. There are some definite needs, but I need some CREative minds to help me find the opportunity. What I see is:
People who will need housing
Trailers needing a home
Property owners needing the tenants and the trailers to go away.
I think I may be able to find a buyer or two- with $2000 for a downpayment, but It seems to be a sellers market- there doesn’t seem to be a shortage of people needing affordable housing. I could probably get some free or cheap trailers, but they are a dime a dozen anyways.
So what would you do with this? Personally I have such a full plate right now, I really don’t need this, but I would like to hear what someone else might see that I might be missing.