Mobile Home Park Policy - Must Approve All Buyers
Hi I'm looking to invest in a mobile home here in the
San francisco bay area. I found a fixer upper for a great deal, but then after talking to the owner he mentioned that before I could purchase the property, I would have to be "approved" by the park manager.
Has anyone else run into this sort of thing? It looks like I could still make it work. .but it sounds like it could make it more difficult.
I have in condo's
They want to let you know what to expect. (pets ect) Also any occupancey requirments. Possable renting. The condo only let me rent 2ce a year(they don't want to much traffic) I resell anyway. I would guess The manager will be thrilled to have the property rehabed.
Fair warning, Mobile homes are differant than houses nothing is the same. Unless you or your contractor are versed with them you will be suprized. Mini things cost more than normal things. Moblie homes cost more to fix those dust board subfloors wick the bathroom water all over ect. www.ect.ect.ect. Standard hazard insurance costs less, normally it doesn't cover the cost
Hi DavidBrowne,
Thanks for your response. I will try that approach. My main concern is once I buy it and fix it up having to go through the red tape of finding a buyer and then needing to have him/her approved by the owner.
I checked out the place today. very nice park, and the place besides looking a little small seemed in decent condition from the outside. It also has a nice little back yard with fruit trees.
Most park owners are looking out for their interest, and the interests of the other tenants in the park.
They want to make sure the Vendor is not going to sell it to Ozzy Ozborne,
Robert Downey Jr. , or Heidi Fleiss
I've thought about buying MHs in parks and fixing them up to rent or sell. I checked into this and decided it wouldn't work. In my area the park owner does a credit check. That wasn't a problem but they also require the owner of the MH to "occupy" the MH. You might want to talk to the park owner to see if they have the same policy.
Just make sure there let you rent the mobile home, and you can do a lease with option and include the park rent into there payment.
RK