quote:
Where do you see foreclosures at? People sell trailerparks at 10x net 350k. People buy parks at 60 months rent. (170k). Might be gross not net. It wouldn't make sense to sell it for less than 4 years earnings or120k. That's why it's worth more!

Look on the MLS or any Auction site, usually all kinds of trailers.

The OP doesn't have a trailer "park", he has 3 trailers. The difference being a trailer park will usually have a cheap employee "manager" that lives for free and is paid pennies to maintain it. That's a big difference, lower expenses all around and you have an on site staff member for issues. The issue with only 3, is the distance and expense for someone to take care of an issue.

Again I have no idea what kind of shape the trailers are in, but selling 3 on almost 1 acre each I'd think he could get $40-50k+ if not more. To me, that's where the money is not selling them to an investor.

If its paid off though, I'd find someone to manage it for the OP as my first and primary option. You'd be looking at probably $500/ month or less for a real estate company to manage it for you.

This post was edited on 9/27/17 at 3:09 pm

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Posted by LSUTigers00884

Lafayette

Member since Oct 2011

1160 posts

Posted on 9/27/17 at 6:18 pm to BigD13

BigD, let's connect man.

This post was edited on 6/19/18 at 1:44 pm

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Posted by Rust Cohle

Baton rouge

Member since Mar 2014

1938 posts

Posted on 9/28/17 at 9:09 pm to baldona

I scour the MLS. And have connected with one lender that finances mobile homes. He periodically sends me foreclosed trailers for sale. I don't see the deals you are talking about. Craigslist, and Facebook marketplace have the best deals. The cheapest piece of land that I see on MLS is targeted for mobile homes, and way out in the parish for about 13 to 15,000 for .4 acres, no trailer.

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Posted by baldona

Florida

Member since Feb 2016

20401 posts

Posted on 9/29/17 at 12:33 pm to Rust Cohle

quote:
I scour the MLS. And have connected with one lender that finances mobile homes.

I'm in Florida, that could be why? I should say probably is why.

FWIW, I have found that you need to find the right realtors. Certain realtors have come to hook up with certain bank lenders, so they get basically all of the foreclosure listings. Many times, if you don't know who that realtor is, then you are SOL as their good deals will sell real fast.

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