Mobile Home Park?
What are your opinions about owning a mobile home park? Worthwhile investment? Any caveats? Anything to beware of, or ask beforehand? Any pro advice?
Thanks in advance for all info!
MC
[addsig]
Not sure about those laws but I know in SE Minnesota we just have to bring in the cops (special drug task force). They will watch for activity or will take a video tape from you and they will raid the place. The landlord is then given notice and if they do not evict in 1 week they are held liable. (sp) Check with the local cops.
What we are dealing with here is a out of area owner that has rented the property to a lady who in turn is leasing it out to her sons or something.
Good to hear. Maybe she might want to get rid of it or maybe she needs a good property managment company. You want the job? ; )
J
Sucks doing the right thing but I did pay them. I am sueing them for all that they owe. If everyone would live up to their word than what a wonderful world it would be.
J
Minnesota has the some of the worse laws to get rid of them. They started off as contract for deed then they were not making ends meet and ask to cancel the contact and go to a month month. So sent them the proper paper work and went to month to month. They fell behind and sent notice to pay or get out. They went and got a free lawyer from the housing help. I inturn produced my paper work. Their lawyer told them to stay till they found a new place and not pay because it will take me at least 60 days to get rid of them. Went to court to do eviction Total cost $580 plus carring cost (not to mention the carring cost for the time they have not paid) and could take another 30+ days. I said greed will make them leave. $500 and out. They are gone but no way are they getting away without paying rent, damages, etc.
Sorry to go on. It was just plain old cost benefit.
Locks have been changed did it that day. The eviction would have cost over 600+ by the time I go to court get the evcition, have the Sheriff move them, If they wanted to they could (and would) force me to have movers move them and store their stuff so I would have had those cost. Plus that holding cost of 2+ month so yea $500 was worth it. Burns me but worth it. Thank you for the kind words. I love this busines but like any love there are the highs and lows.....
cei, my properties are in the baltimore city section of brooklyn, near patapsco ave.
Sounds like a bad soap opera....Know your states law up front and dont trust anyone!!!. Know what you are doing before you get a renter. A good renter is some one who could easily be a buyer these days. Why would anyone rent when they qualify to own?????? The old days are gone when you could make a killing on other people easily.....