Our newest tenant owns and lives in her 3 bedroom mobile home in the same park that we own 3.She came to us telling us her problem, that she cannot afford to repair her mobile (cost $5-$10k to repair) and so is considering signing it over to the park for free. The park doesn't like older mobiles, like ours, and so if anyone sells, they put such restrictions on the new owner, no one wants to buy them. She requested to rent our available 3 bedroom mobile. The park removes and destroys these mobiles. They want to attract the newer prettier mini homes in there now.
We offered her a solution. While she is renting from us, we will have our carpenter look at hers. If it is viable to repair (we think it should be) we will pay for it, and next year move her back into her home, and she can pay it off via monthly payments.
Off course we will make money off this arrangement, the carpenter is willing to take install payments, and the tenant will get her home back, and not be stuck renting for the remainder of her life.
Received a phone call from another person in this mobile home yesterday. He wants to sell us his 3 bedroom mobile.The park gave him a list of restrictions for a new owner. He wants to sell so he can put down a deposit on a house.
No one would want to buy this mobile, because of the added expense of $5-$7k. We told him he would be better off renting out his mobile and using the income to pay for his house. I don't think he liked the idea of becoming a landlord.
Afterwards, I was thinking, and mentioned to Rob, there are ways of getting around this problem. A person could rent that mobile, on a 100 year lease, basically for the purchase price, and not need to change anything. Just have a contract stating the tenant is responsible for all maintenance and repairs.
I think he is probably asking $15-$20k for this mobile.
We offered her a solution. While she is renting from us, we will have our carpenter look at hers. If it is viable to repair (we think it should be) we will pay for it, and next year move her back into her home, and she can pay it off via monthly payments.
Off course we will make money off this arrangement, the carpenter is willing to take install payments, and the tenant will get her home back, and not be stuck renting for the remainder of her life.
Received a phone call from another person in this mobile home yesterday. He wants to sell us his 3 bedroom mobile.The park gave him a list of restrictions for a new owner. He wants to sell so he can put down a deposit on a house.
No one would want to buy this mobile, because of the added expense of $5-$7k. We told him he would be better off renting out his mobile and using the income to pay for his house. I don't think he liked the idea of becoming a landlord.
Afterwards, I was thinking, and mentioned to Rob, there are ways of getting around this problem. A person could rent that mobile, on a 100 year lease, basically for the purchase price, and not need to change anything. Just have a contract stating the tenant is responsible for all maintenance and repairs.
I think he is probably asking $15-$20k for this mobile.
