Posted by rachel on April 24, 2009 at 08:19:15:
HI Keith, do you buy the lots from tax sales? Or, directly from the owners?
Thanks for your help!
Lonnie deals with lots - Posted by Tyler
Posted by Tyler on June 23, 2005 at 20:25:55:
I read in his books of buying homes with lots in trailer parks or courts, I thought the idea behind a trailer park/court was that they rented the space, so how could people privately own the lot, what would the park owner get out of this? Are some parks individually owned by each resident and not by a park owner? please help me clarrify how he would do that, thanks, I live in AK if it matters.
Tyler
Re: Lonnie deals with lots - Posted by TeddyB_SC
Posted by TeddyB_SC on June 24, 2005 at 09:19:38:
Tyler,
There’s a difference between mobile home parks and lets call them mobile home communities. In a MHP you are correct to assume that the spaces are rented. Where I live we have a mobile home community consisting of 209, 1/4 acre lots that are all privately owned. This is where I do most of my investing, buying as many lots as possible. There are other areas in our county that have similar setups ranging from 1/4 acre lots to 1/2 acres lots, although none are as large as the one I mentioned.
Drive your area and look for areas where MH’s are the main type of residence. These will probably be your privately owned MH lots. You may find a large group or several small groups. I was recently in one that had only 13 lots. 12 had MH’s on them and 1 was a house. In the community I invest in several people have actually put in houses.
If you are looking to own the dirt you need to look around the area that the MHP’s are in.
Good Luck,
TeddyB_SC
Re: Lonnie deals with lots - Posted by JohnTN
Posted by JohnTN on June 23, 2005 at 22:22:46:
Tyler,
The parks about which Lonnie writes in his book are condominium parks. In these parks, the lots are privately owned. These parks seem to be unique to his area - I haven’t heard anyone else mention this type of arrangement.
John
John
Re: Lonnie deals with lots - Posted by Keith (TX)
Posted by Keith (TX) on June 24, 2005 at 08:24:31:
They’re pretty common here in TX although deed restrictions seem to becoming more and more prevalent, which makes cheapo Lonnies a little more complicated. I am in escrow on a deeded double lot 100x120 with water meter, power pole, and septic already in place that I bought for 2500, another 100x60 with all utilities for 2200, and a third I may end up paying 3500 for but am trying to work down. I could buy them all day long for 5000-10000. Now I am trying to find homes that are a good fit. Sell the homes, rent the dirt.