Florida Deals On Wheels
I'm looking for Florida information. How many MH can I own personally? is a dealers lic unlimited to the amount of MH that dealer can own or does the dealer lic have limiting conditions?
In an over 55 Seniors Park, in theory, can a company with a dealer's lic buy a trailer or would that be up to the park mgmt?
Are MH registered at motor Vehicles?
Any florida info would be great, I have a few snow bird's with $$ looking for me to put some deals on wheels together for them.
ShirleyGirl
I developed a retirement mobile home community in Brooksville, FL. You can buy homes without a dealer license and resell. Some investors only do 3 or 4 per year and are able to get around the requirement of the dealer license. Risky, if you buy more than one in a park. You are then competing with the park on resales. Many park owners become greedy and resent outside investors buying units in thier park.
Check on the park for the following:
Amount currently owed.
Increases for the past three years.
Prospectus
Pass-on's
Termite inspection
Age of home - if electricity meter has been removed, then a permit from the building department may be needed to have the power turned on. Check for aluminum wiring. Walk away.
If a park has a lot of resales, walk away. Problems with management.
Check with the county building department and see if the project lies in a flood zone. Florida is doing extensive changes in the FIRM (Flood Insurance Rate Map)
Find out from Florida Manufactured Home Association, if they have an active chapter in your area.
Be careful of the rules and regulations. What seems to be a good deal, can cost you if you do not meet the requirements of the prospectus.
Feel free to respond direct to my email site ****Must Reach Freshman Investor status before posting URL's***asales@joink.com.
Good luck
Chuck
Hi Chuck,
I sent you an email and it was returned.
Thank you for taking the time to reply to my post about Florida mobile homes.
What is URL's?
How many trailers can you have before acquiring a dealers lic? is it state
wide or county?
ARe they registered at DMV's?
From your experience and anyone else reading this, will park owners take a % commission to do business in their park? I'm from out of state and have a pool of buyers, would it be attractive to offer %?
Prospectus - is that the growth plan or outline of the mobile home community?
(so let's say no mobile homes allowed in park over 30 years old type of thing?)
What is a pass-on?
How does the FIRM affect a mobile home? unable to get insurance or just flood insurance?
Thanks for your time, I'm just getting my preliminary research done for a plan.
Shirleygirl
How many trailers can you have before acquiring a dealers lic? is it state
wide or county? -----Check with the Florida DMV website for current rules.----
ARe they registered at DMV's? ---- Homes are titled like a car, unless the park is homeowner owned. (Coop)----
From your experience and anyone else reading this, will park owners take a % commission to do business in their park? I'm from out of state and have a pool of buyers, would it be attractive to offer %? ---Good approach. Most parks charge like a relator, 7%. If you supply the customer and they show the house, write the offer, then it would be a win win situation for both of you. With todays market, the park owner would welcome your Canadian customers---
Prospectus - is that the growth plan or outline of the mobile home community?
(so let's say no mobile homes allowed in park over 30 years old type of thing?) --Yes. It gives the rules and regulations, etc.---
What is a pass-on? ---Increase in park real estate taxes, sewage treatment increases, etc. It is a way to pass on unforseen costs to the residents. --
How does the FIRM affect a mobile home? unable to get insurance or just flood insurance? -- The minimum flood insurance is around $600 US. If someone is needing a loan for the purachse of the home, the lender will require. This additional cost could put the home out of the potental customers budget.--
I tried to highlight, but I am doing something wrong. There is a magazine in Florida, which focuses on mfg homes. They have a website. I am going to Florida next week, will try to get a new copy.
Watch you plan on purchasing. Monthly lot charges we eat you alive. Homes in subdivisions, only have the mortgage, insurance and taxes.
Chuck
Thanks Chuck,
Your knowledge and experience have been an asset for me.
Shirleygirl