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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

I prefer the resident owner communities.

Sep 07, 2017 11:08 PM
Rainmaker
789,939
Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

In Malibu even the mobile/manufactured homes on a leased pad could fetch a much higher price than the structure is worth as a ticket/entry fee into a highly desirable location. Wouldn't mind working one of them.

Jan 31, 2015 04:14 AM
Rainmaker
552,147
Hella M. Rothwell, Broker/Realtor®
Carmel by the Sea, CA
Rothwell Realty Inc. CA#01968433 Carmel-by-the-Sea

In Northern California you can pick up a Mobile Home on a leased pad for $15,000 (1970s single wide) and up. The problem is park owners can raise the space rent to where these low income owners have a hard time paying for it. When problems arise, owners can't even move them; they are not allowed out on the street. I would always urge buyers, if they can afford it, to go with dirt they own. Much less hasstle and a chance to build equity. Would I get involved in selling them? Not a chance unless they are recent models and a high end area like yours, John.

Jan 30, 2015 07:11 AM
Rainmaker
1,523,816
Sybil Campbell
Long and Foster REALTORS® 5234 Monticello Ave Williamsburg, Virginia - Williamsburg, VA
REALTOR® ABR, SFR, SRES Williamsburg, Virginia

I would definitely do a lot of research to see what your ROI would be.

Jan 29, 2015 01:31 PM
Rainmaker
4,798,978
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

In Florida, one needs to be licensed as a car salesman to work on mobile homes on rented land.

Nov 26, 2017 06:56 AM
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688,653
John DL Arendsen
CREST BACKYARD HOMES, ON THE LEVEL GENERAL & FACTORY BUILT HOME CONTRACTOR, TAG REAL ESTATE SALES & INVESTMENTS - Leucadia, CA
Crest Backyard Homes "ADU" dealer & Contractor

Pete X with X Group Real Estate Advocates, Huntington Beach, CA 714.459.2017 OCLister.com I'm sure you're referring to Paradise overlooking the ocean. A friend of mine sold a circa '60's trailer for 1 MILLION DOLLARS a couple of years ago. But the real kicker is that the rent space is 5k/mth!. You bet there's some gold in them thar hills.

Jan 31, 2015 12:54 PM
Ambassador
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John DL Arendsen
CREST BACKYARD HOMES, ON THE LEVEL GENERAL & FACTORY BUILT HOME CONTRACTOR, TAG REAL ESTATE SALES & INVESTMENTS - Leucadia, CA
Crest Backyard Homes "ADU" dealer & Contractor

Evelyn Johnston Yes, depreciation is a definite issue in many areas that are not necessarily in the path of progress. However, if you are fortunate to be in that path i.e. coastal, mountain, river, lake, golf, resort, etc. even old beater singlewides hold their values and even appreciate.

Once again it's weird science. In our area lf Leucadia we're seeing MH's that were made in the 50's and 60's selling from 100-500k with rents in excess of $1200/mth and HOA fees in resident owned communitites starting at $400/mth. 

Jan 30, 2015 02:55 AM
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John DL Arendsen
CREST BACKYARD HOMES, ON THE LEVEL GENERAL & FACTORY BUILT HOME CONTRACTOR, TAG REAL ESTATE SALES & INVESTMENTS - Leucadia, CA
Crest Backyard Homes "ADU" dealer & Contractor

Sybil Campbell I had to re write the question because after re reading it I could see how confusing it might be. Thanks for the heads up. I hope this question is a little clearer. 

The reason I'm asking this question is because of San Diego's diminishing inventory. I'm beginning to see a lot more RE Professionals delving into the MH Industry and have been asked by many what I thought of rent/lease vs resident owned. 

As a Manufactured Home Dealer and RE Broker I'm comfortable doing both whereas a RE Professional only tends to be a bit drawn to resident owned because it involves the dirt.

However, there's money to be made selling in rent/lease communities as well. In fact the commissions in rent/lease are pretty generous. Many work with minimums of $3500 while others work on a 10% commission and there are even deals made where the agents make everything over a predetermined asking price. 

It can be weird science at times but with a slow down in sales overall, a shortage of inventory, a downsizing baby boom generation that desires the San Diego climate and myriad activities, young couples starting out and just all around affordability I'm beginning to see a lot more interest than ever before in MH's overall.

By golly I think this answer may be worthy of fodder for my next post which was precisely why I asked this question to begin with. Thanks for letting me rant on on your thread. LOL!!

Jan 30, 2015 02:49 AM
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John DL Arendsen
CREST BACKYARD HOMES, ON THE LEVEL GENERAL & FACTORY BUILT HOME CONTRACTOR, TAG REAL ESTATE SALES & INVESTMENTS - Leucadia, CA
Crest Backyard Homes "ADU" dealer & Contractor

Roy Kelley Thanks for stopping by.

Dennis Swartz Wish I was interested in Ohio from the sounds of things. However, it's not quite that easy in Cali. Lot's of hoops to jump through getting someone evicted and gaining possession of the MH.

Jan 30, 2015 02:31 AM
Rainmaker
5,982,938
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

We do not have this kind of community in our area.

Jan 29, 2015 08:22 PM
Rainer
212,763
Dennis Swartz
Full Circle Property Management - Columbus, OH
MBA, GRI...experience counts!

They are HUGE cash flow if managed properly, and if they don't pay you have them towed off the lot-no eviction laws!

Jan 29, 2015 06:32 PM
Rainmaker
2,432,999
Evelyn Johnston
Friends & Neighbors Real Estate - Elkhart, IN
The People You Know, Like and Trust!

Probably not.  In our area we have several private lot communities of manufactured and modular homes.  Most of them depreciate and the home owners just can't get rid of them.  My price point is higher than they would sell for.

Jan 29, 2015 12:33 PM