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  #1  
Old 01-05-2009, 12:35 AM
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Thinking of investing in moble homes

It seems like the economy is getting worse and worse. With this, trailer parks will not be disappearing. With this, I have heard of picking up a trailer in a lot for $500 and selling it for $1,500 then collecting $300 a month for the next three years. I guess this would be the ultimate way to be a slum lord, lol, but it does sime like a way to make some extra money.

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Old 01-05-2009, 01:22 AM
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Old 01-05-2009, 01:46 AM
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I'm having more fun than a tornado in a trailer park!
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Old 01-05-2009, 05:17 AM
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One of my clients does foundations for Mobile Homes, ( we inspect the piers holes). His work has fallen off dramtically. A year ago, i considered buying his business--GLAD I didn't, as the current level of income wouldn't even pay the interest on the loan, let alone turn some profit.
I had thought that with the shrinking in the economy that more people might consider a Mobile Home, as a lower cost alternative. It seems that the economy doesn't work that way. The poor stay poor while the really rich ride above the fray. The formerly pretty well off would never consider a Mobile Home under any circumstances--maybe thats the telling concept.
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Old 01-05-2009, 06:12 AM
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I have a good friend who runs a very nice trailer park. Times are not so good if I understand the comments he makes. I would be cautious about this idea, but truthfully, the investment may be so low that walking away from it won't hurt too bad, except getting rid of the trailer legally can be a bit dicey!
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Old 01-05-2009, 10:37 AM
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Quote:
Originally Posted by t walgamuth View Post
I have a good friend who runs a very nice trailer park. Times are not so good if I understand the comments he makes. I would be cautious about this idea, but truthfully, the investment may be so low that walking away from it won't hurt too bad, except getting rid of the trailer legally can be a bit dicey!
I have a friend that bought one a few years back, and it was a pain for him to sell again.

A developer bought a trailer park along the river here, and it has became a headache for them, since most of the residents just abandoned their trailers. So now they have to go through, and locate each owner of the trailer, and get permission to tear down the trailer.

So in a nutshell, I would never buy a trailer, unless I was to live in it, which would never happen, unless if was an Air Stream, then I would be upper class trailer park trash ...
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Old 01-05-2009, 10:56 AM
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Don't do it, at that rent level you will struggle to collect every month..if you do collect at all. They move from trailer to trailer without thinking about it. I know one guy that went to collect rent and the trailer was gone. He took it well and laughed his ass off.
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Old 01-05-2009, 07:00 PM
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I have a second cousin that does quite well with his trailer park (and his inner city apartment buildings). He is about 6'3", spends two hours a day in the weight room, carries an 8" hunting knife on his belt and always has his bull mastiff at heel on his daily rounds of his properties.

Unless you fit his profile you really don't want to be involved in low rent stuff.

Jim
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  #9  
Old 01-05-2009, 10:44 PM
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I asked my friend and he said he would only allow someone who lived in his park to own and rent one additional trailer.

His occupancy rates continue to slide even though his park is close to campus and has lovely mature Oaks all through it. He has some stories to tell. People abandon trailers in his park all the time and he has to figure out what to do with them. They usually have a loan on them for more than they are worth and he has to struggle to gain possession of them so he can get rid of them or rent them to recover his rent owed.

His park is a family owned business since the early fifties when living in a trailer had no stigma to it.

Its nothing I would want to do today (rent a trailer).

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