Dear Stephanie: Adding rental income through additional mobile homes

Dear Stephanie, No one does chattle loans to buy mobile homes any more. I’d like to add more mobile homes for lease to my park but after running my financials at this point I don’t have the extra cash in the budget. Also, the market for quality used mobile homes seems tapped out at this time. Adding the rental income through additional mobile homes would significantly add to my bottom line over the next five years. What do you suggest I look into? - ChattleShocked in Charlotte Dear ChattleShocked, The good news is that today there are companies who offer programs for park owners to buy new homes with little to no initial cash outlay. These programs typically offer a 12 month window wher

Spotlight: Old Pendleton Estates

Located in Powdersville, SC, this large community has a total of 75 lots. It is being offered on the basis of its current income, providing a great opportunity to take advantage of the upside of potential rent increases as well as the filling of the twenty three developed vacant. A hands-on operator could purchase used homes and bring them into the community to rent or sell to potential residents. Powdersville is becoming an increasingly popular suburb located 8 miles northeast of Greenville, the largest city in the region. Current listing price: $1,750,000. Please contact us for more information and a full memorandum!

Spotlight: Willow Springs

This community is strategically located close to schools and to downtown Rock Hill, South Carolina while offering a low cost alternative to the more costly housing typical of the area. The 35 pad park features 34 park owned homes along with city water and city sewer. The location is within an established residential area with a strong family orientation. Rental demand is strong in the area. The park also features a commercial building on the property that could easily be converted to another revenue source such as laundromat or store. Currently, the property is listed for $890,000. Please contact us for more information and a complete memorandum.

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