Q for those of you who've bought land & put a mobile home on it

[barronj]

One of my clients wants to pick up 10-20 acres & put mobile homes on them & resell, owner finance on the resale when necessary.

For those of you who have bought property w/ a mfr'd home on it, or have brought one on after the fact, what did you learn, and what can you share for experiences?

This would be on property far outside the city of Austin, SE of here, like Dale, Lockhart, Litton Springs, Mustang Ridge, etc.

Ideally, I will never leave my desk for this assignment.

[Rreemo]

I have no experience first-hand, but I used to work with a guy that bought ~20 acres that was partially developed into a trailer park, at a tax auction. He had the same idea, and got hooked up with a few different outfits that flipped repossessed mobile homes (which apparently are plentiful)....he would buy them, freshen them up, and set them up on his property with some sort of rent-to-own agreement on the home, and a minimum stay agreement on the rental lot that it sat on.

He's always said it was like a "bird's nest on the ground"....majority would only stay 1-2 years and then break the agreement and hit the road. Since the mobile home was on his property they were also less likely to tear shit up before they left.

Once they were gone, he'd set the unit up for the next one. It became a cycle that made him fairly wealthy over the past ~15 or so years.

[Forever_frost]

Make sure the septic system, if not connected to city sewer, is up to date, functional and if it's an aerobic system, that the sprinklers work. There's a gray box that will trigger the sprinklers to test them. Also, tell them to ask for the sellers to have the tanks pumped before they buy.

[ELVIS]

Uncle Slayton's got his Texan pride
Back in the thickets with his Asian bride
He's cut that corner pasture into acre lots`
He sells 'em owner financed
Strictly to them that's got no kind of credit 'Cause he knows they're slackers
When they miss that payment
Then he takes it back

god bless.

[BP]

Learn what meth manufacturing looks like and make sure there isn't any going on. Those tweakers will pull all the cabinets down and rip up the carpet looking for cameras and microphones. Make sure you have something in the deed restrictions against parking in the yard or they'll destroy your septic system. People that live in trailers also tend to have vicious dogs, they'll jump through windows when the owners aren't home and kill everything in site and when they are done they'll rip up the a/c ducting under the home to stay cool.

You'll be dealing with people that aren't smart enough to figure out how to scam the government for section 8 housing and don't qualify or make enough to live in an apartment or rent house. Sure there are some good people living in trailers but all stereotypes have a reason behind them.

If he's looking near Lockhart has he considered doing an RV park? KOA franchises make some money.

[Baron Von Crowder]

Uncle Slayton's got his Texan pride
Back in the thickets with his Asian bride
He's cut that corner pasture into acre lots`
He sells 'em owner financed
Strictly to them that's got no kind of credit 'Cause he knows they're slackers
When they miss that payment
Then he takes it back

god bless.

my nigga!

[Sean88gt]

Uncle Slayton's got his Texan pride
Back in the thickets with his Asian bride
He's cut that corner pasture into acre lots`
He sells 'em owner financed
Strictly to them that's got no kind of credit 'Cause he knows they're slackers
When they miss that payment
Then he takes it back

god bless.

Awesome!

[SMKR]

One of my clients wants to pick up 10-20 acres & put mobile homes on them & resell, owner finance on the resale when necessary.

For those of you who have bought property w/ a mfr'd home on it, or have brought one on after the fact, what did you learn, and what can you share for experiences?

This would be on property far outside the city of Austin, SE of here, like Dale, Lockhart, Litton Springs, Mustang Ridge, etc.

Ideally, I will never leave my desk for this assignment.

Good ole chattel loans, default on that single wide, give up that land it sits on.

[Big Dad]

Uncle Slayton's got his Texan pride
Back in the thickets with his Asian bride
He's cut that corner pasture into acre lots`
He sells 'em owner financed
Strictly to them that's got no kind of credit 'Cause he knows they're slackers
When they miss that payment
Then he takes it back

god bless.