Worst part, there are dozens of them available.
The restrictions on the parks that will allow them now is what is holding us back.
The one I mention above is 12X48.
I can purchase one now 14X64 for $5000 and spend another 2K to move it to the park.
Most mobiles are oil heat, and the parks do not like that either.
Unless we purchase our own land, and then start to move mobiles onto them, we are hesitant to buy too many.
The next propblem is being able to buy land that permits mobiles. Then there are restrictions on the number you can put on them without subdividing the land. Then of course you have to install sewer, water, electicity etc.
This all starts to add up.
But yes, thank you it was a great deal.
The one we are finishing up now is a mobile on its own land we are purchasing for $20K. We give the vendor $1k a month for 20 months.
In turn we are offering it as a Rent to Own for $750 month for 10 years.
This is strictly done for cash flow, as the tenant will be responsible for all maintenance and repairs.
The lawyers fees will be higher than normal, as the owners live in USA, and they are not using a lawyer.Time consuming and we are willing to pay the bit extra..it is a great deal.
Yeah clever stuff Kath . So the parks clamp down ? the bugers know your getting their profit !
I'm not sure what the go would be here with that . I know I can get vans into parks ok but the letting it out from the parks point of view, any restrictions and what a profit margin left after park costs would look like. I'd like to take a look at that one here . As far as putting cabins into a park here, also no idea .
Nice rent to own deal there too by the way and similar to one I've done here coincidently .
I put a transportable on a block here and did a 13 yr rent to own on it at $700pm.
Because of card financing though it works best to get that down asap of course and that does bite into profit but I'll pay it out via another deal I've done this year, a reno, I think you guys call them fixers .
The transportable on block deal works out at roughly '20% CP 'for the first 5 yrs and then reverts to 100% CP for the remaining 8 yrs , similar set up to yours so that's a nice one.
The only problem there is and it was a biggie, the council didn't like the transportable and like you ,wanted it completed sewered and fully connected .
Where as I put it onto a composting and solar system . It all works beautifully and the buyer has no bills and reckon it's great and hey, aren't we suppose to be going as green as possible but try telling the council that .
That one is out of town though so what difference it makes is ridiculous .
Anyway , they decided to let it go this once but if I did it again under that same shire they'd be all over me .
And as you say that leaves connecting costs, permits, fees, which really bite into the old margins as you say but I am still looking into that one myself too again coincidently.
Like you I still find it has heaps of potential , I just need to work out a viable system for the areas and keeping my margins .
I couldn't put on more that one here or council will class it as a park and force e to set it all up accordingly which is way out of realm of course .
But I have found the idea of the buyer atleast having somewhere to stay, live and call their own, while they can then build at their own leisure from there, really appeals to them. My first one had many inquiries, I really could have sold it 100 times over I think .
Cheers