Need A Little Help

are an entirely different strategy that brick and mortar homes for one important reason: MH are a depreciating asset and brick and mortar homes are an appreciating asset. Therefore, you have to make sure that you are buying it at the right price (maybe the reason it's vacant is that even $7,000 isn't a good deal); you have to be able to find the right buyer (there are less people that want to move into a mobile home than a traditional home); and you have to make sure that you can accept the terms and fees of the park that it is located (age restrictions, no renters, no animals, monthly fees out of line); because once you sign for it, you have to abide by the rules. They may have to approve you first before you buy, so check that out before money crosses hands.

We only have bought mobile homes in Florida as it is a common living arrangement, but we always have an exit strategy first.

You also have to find out if mobile homes in your state and/or park are base on realty or personal property. It makes a difference on what type of arrangement/agreement that you use for your security. The county property records should help in this area, as you can just look up the address and see if property is recorded in owner's name.

Good luck and be careful.

Bill that is why I like you, you always have the wright information when a question comes up.

If I could only convince my wife and kids I had the right information, I'd be king for a day!! LOL

If i'm correct, mobile homes are sold like cars, with a title
no real estate involved. You need to negotiate with park owner
for rental space, hope this helps

George41

Thank you all for your help (they backed out btw )

There are lots of deals out there involving mobile homes. Most of them require a degree of renovation before they can be rented,leased or sold. Having said that, you might want to try talking to the park managers to see if they have any units that have been taken over by the park. (Owners may not have the inclination or funds to move the unit. Also, it may be too old to move somewhere else, so they abandon them often) Several parks in my area have these fixers at really low prices. You could put a couple of thousand dollars into a unit which might then be sell-able or rent-able. My friend actually got one free because the park managers/owners are more concerned with space rent than owning a fixer trailer. The key is to talk to the manager/owners of the park and see what they have. Thy other issues discussed above are great having to do with title and such. Good luck.