Posted by Chris Reuman (Maine) on June 02, 2005 at 18:31:09:
Debra,
At least no one can say that you don’t dream big. I went to the website. Located on 150 acres with 1576 sites. This isn’t an RV park, this is a town. As their history states, get some partners with very deep pockets.
Best investing, Chris
Interested Party - Posted by Debra
Posted by Debra on May 29, 2005 at 09:51:13:
I am asking the forum for opinions.
I am a new residential appraiser in Tucson, Arizona. I have always been in love with mobile/manufactured homes. Always wanted to open a mobile home park, (not a manufactured home park) for older couples who won’t be able to afford anything here in Tucson in about 2-3 years. Does anyone think that a mobile home park would be better than a manufactured home park as far as cost, income and maintenance. I don’t have much money to get started but I think it would do well here.
If any of you think I would be able to do it, then I will purchase these books.
Thanks for your input.
Re: Interested Party - Posted by Karl (TN)
Posted by Karl (TN) on May 30, 2005 at 01:35:53:
It’s possible. Though it is getting more and more difficult to develop new Parks due to zoning and public perceptions. Particularly true when dealing with the singles. You may consider a mix of the two.
I would think Tucson proper and Pima County would be difficult. Often times you may find it cheaper, easier and faster to purchase existing parks and redevelop or just turn around based on todays standards. Retirement parks are the Gold. You are in Mecca!
Re: Interested Party - Posted by Debra (AZ)
Posted by Debra (AZ) on May 30, 2005 at 08:40:46:
Thank you for responding.
I am a big girl with a big dream of owning a mobile home park for retired people. Why do you think it would be hard to start one in Tucson? I would think that with the market booming the way it is here that this would be a good place. Not only that I hear that Arizona and Florida are the places that the baby boomers will be flocking to when they retire.
As I said, big girl with a big dream, so how does one get started. Small! Are there investors out there that will take chances on a good thing if I can prove that it will be successful here?
Also, I would like to start buying and selling mobile/manufactured homes, are Lonnie’s books the way to go?? I don’t know much about them but interested in purchasing them.
Thank you for any response!
Re: Interested Party - Posted by Michael(KCMO)
Posted by Michael(KCMO) on May 31, 2005 at 11:57:05:
Yes. If you want to start buying and selling mobile homes then Lonnie’s books are the way to go.
Re: Interested Party - Posted by Karl (TN)
Posted by Karl (TN) on May 30, 2005 at 21:28:52:
I totally agree that you are in the retirement zone and retired folk are the BEST park tenants you could have. I know from experience. As I said before you are in the mecca! Seniors are the Gold in this business.
Again I didn’t mean to pooh your dream. You may have to go just outside of the Tucson city limits and maybe outside of Pima County. With property values what they are and public perceptions… In other words the powers that be will approve luxury condos before manufactured housing. And the condo market there is crazy right now!!!
This is also why I suggested looking for something already established that can be improved upon.
And if your big girl dreams land something and you need cash hang on to my email. I love that area. Let’s build one in Tombstone.
By the way retired people as tenants have their downside too. They don’t work so they gripe about everything and everybody. My experience is they just want to be heard so I don’t get too worked up about it and just listen.
Good Luck!
P.S. - Posted by Michael(KCMO)
Posted by Michael(KCMO) on May 31, 2005 at 12:01:57:
If you want to know why an existing park might be easier to do as opposed to starting one from scratch then I suggest starting w/ Ray Alcorn’s articles on this site. I also think his “Dealmaker’s Guide to MHP’s” is worthwhile, although I think he has a newer version of this out - encompassing more commercial property types overall. I just can’t remember what it’s called.
You might also do a search in the archives on “starting mobile home park” or some such combo of similar words. There has been much discussion on the subject.
Best Wishes,
Michael Stilfield
Re: Interested Party - Posted by Debra (AZ)
Posted by Debra (AZ) on June 01, 2005 at 13:18:28:
Thank you.
All the good ones are taken. I would really like to start my own. Somewhat like Voyager RV Park-Tucson. It’s huge but really neat. It has RV’s, small rentals and then year-round park models. Plus it is self sufficient-it has everything from a post office to a resturant to a beauty shop. I wouldn’t want something that big but if I could do that in a small dose I would be happy.
Thanks for responding.
Debra
Tombstone? Never thought of that.
Thanks. Debra
Re: P.S. - Posted by Debra (AZ)
Posted by Debra (AZ) on June 01, 2005 at 13:01:47:
Thank you very much. I would like to start one from scratch. Being an appraiser, I have been to many parks here in Tucson. They are all thriving. Voyager RV Park in Tucson, one of the biggest ever, is what I want to go for-just a little smaller. Check out the website for Voyager RV Park Tucson. It’s pretty neat. Totally for vacationers and seniors.
Thank you for your ideas.