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I prefer the resident owner communities.
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.
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.
I would definitely do a lot of research to see what your ROI would be.
In Florida, one needs to be licensed as a car salesman to work on mobile homes on rented land.
We do not have this kind of community in our area.
They are HUGE cash flow if managed properly, and if they don't pay you have them towed off the lot-no eviction laws!
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.