Lease On A Mobile Home
Has anyone gone through this. If so, what are the things to watch out for? I found that most of every mobile is on lease land, how can you work this out.
Has anyone gone through this. If so, what are the things to watch out for? I found that most of every mobile is on lease land, how can you work this out.
Generally speaking, it is very difficult finding quality Tenant/Buyers for mobile homes. Best to buy the mobile home and then provide actual owner-financing.
[addsig]
Good observation, mcole! You have a very good point, indeed.
[addsig]
That is what I did for years before I moved onto houses.
I found the best way to get around MHP owners is to set you up an LLC with something in the name that is proffesional and sounds like it could be a bunch of investors on Wall Street. Then you never use that LLC to do anything but finance properties. Have proffesional yard signs made up to match your LLC.
Also never meet the park manager in person ( keep a banker perception of yourself) only use 800 number when dealing with this LLC(keep perception)
Always call the park owner and ask them that if you would decide to keep the MH in their park you will need a set of rules to pass along in your finance papers.
MAKE SURE DURING YOUR HOLDING DAYS YOU NEVER NOT MAKE THE MH LOT RENT.
I promise you will never have a problem nor will you ever meet MH park owner in person.
LET THEM KEEP THEIR PERCEPTION of you.
Good Luck
Thanks LOK,
That observation comes from first-hand experience. I had to sell one I wanted to keep. (lol-lol)
: )
Quote:
On 2006-12-06 08:40, LeaseOptionKing wrote:
Good observation, mcole! You have a very good point, indeed.
[ Edited by mcole on Date 12/07/2006 ]