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re: how profitable is owning a trailer park?
Posted on 12/4/17 at 7:16 am to TigersHuskers
Posted on 12/4/17 at 7:16 am to TigersHuskers
Have a friend who owns a ton of them and makes a fortune. He said what ends up happening is people don’t pay rent, then you can take their trailer. Once that happens a bunch of times you end up renting the spot with the trailer on it for more money.
He’s branched out into “rv lots” now in gulf shores / orange beach too
He’s branched out into “rv lots” now in gulf shores / orange beach too
1
Posted on 12/4/17 at 7:17 am to TigersHuskers
My uncle owns one. Bought 40 acres, used 5 for a park (the trailer kind). Has one full time maintenance guy. No clue on revenues.
Posted on 12/4/17 at 7:21 am to TigersHuskers
Very profitable if it's decent size.
Buy as many of the trailers as you can. Rent on the trailers is better than the monthly lot leases, and upkeep on the trailers isn't bad.
Posted on 12/4/17 at 7:39 am to TigersHuskers
I've actually thought about this business venture myself a time or two.
I know a guy in BR who owns 3 or 4. It keeps his wife very busy as he runs another business. They do VERY well from what he has said.
I know a guy in BR who owns 3 or 4. It keeps his wife very busy as he runs another business. They do VERY well from what he has said.
Posted on 12/4/17 at 7:45 am to TigersHuskers
It's a pretty good deal. The problem is most municipalities won't let a new trailer park past the zoning board anymore unless you go to some place like Arkansas or South Dakota
Posted on 12/4/17 at 7:49 am to TigersHuskers
quote:
how profitable is owning a trailer park?
I guess if you have a useless piece of land, you could always set this up. Trailer parks are becoming more scarce in suburbs as they are written out of the development code. That could be an issue.
More upfront costs, but I'd go the mini storage route.
This post was edited on 12/4/17 at 7:50 am
Posted on 12/4/17 at 8:09 am to TigersHuskers
If you like trading a months rent for some good dope, or killer white trash blowjobs, it's a fricking gold mine.
Posted on 12/4/17 at 8:11 am to member12
quote:
I'd go the mini storage route.
Same. That and the boat/RV parking places seem like they would a lot less hassle to operate.
Posted on 12/4/17 at 8:12 am to TigersHuskers
It is a gold mine. I'm thinking about buying about 5 or so myself and renting them in an already established park.
Posted on 12/4/17 at 8:29 am to CroakaBait
quote:
There’s a trailer park a few miles from me where the entrance is flanked on both sides by two mini-mall buildings that house a tattoo parlor, a convenience store, a bar, a liquor store, a hair salon and a tanning salon.
White trash Disneyland.
That's just brilliant.
Need to just add a Dollar General and Bail Bondsman.
Posted on 12/4/17 at 8:38 am to TigersHuskers
You make good money.
Figure you get four acres of sub prime land and put tent trailers per acre.
$500 rent per.
$20k a month in rent easy.
Used trailers are cheap.
Put some token double wides in the front and you are golden.
Figure you get four acres of sub prime land and put tent trailers per acre.
$500 rent per.
$20k a month in rent easy.
Used trailers are cheap.
Put some token double wides in the front and you are golden.
Posted on 12/4/17 at 8:45 am to LSU-MNCBABY
quote:
He’s branched out into “rv lots” now in gulf shores / orange beach too
You mean RV Resorts.
Posted on 12/4/17 at 8:48 am to baldona
This, you want to own the trailers.
A used trailer can be found for just a little over moving costs.
A used trailer can be found for just a little over moving costs.
Posted on 12/4/17 at 8:51 am to Cdawg
My wife's grandpa owns one, and has for several decades. Her uncle owns and runs a trailer moving business, as well as a few lots across the street. It isn't getting anyone rich on the size of the park, but it pays the bills. They buy old burned out trailers, gut them, move them to a spot, and then fix them up so they're no longer really mobile. Drywall, flooring, paint, and do all of the work themselves. Pretty decent income in their retirement, and they're surrounded by family in nearby towns that help out. Even though he's in his 80s now, he still gets out and works every day on something. Most of the tenants work at a plant nearby and he's only had a handful of issues in all the years he's run the place. Their house is across the street from the lots the trailers are on, so being there 24/7 cuts down on any bad activity.
Posted on 12/4/17 at 8:56 am to TigersHuskers
I own one.
Don’t rent trailers, just lots
Give a reliable tenant free lot rent and some cash each month to handle day to day.
Depending where it is, convert some lots in to RV spots.
Don’t rent trailers, just lots
Give a reliable tenant free lot rent and some cash each month to handle day to day.
Depending where it is, convert some lots in to RV spots.
Posted on 12/4/17 at 8:56 am to TU Rob
The key is you don't want young white trash. You don't want a trailer park where you'll invite that, you want people that have leveled out their life and are just trying to hustle by but due to bad choices previously can't afford anything better. You want middle aged single women, old people, or families. There's tons of trailer parks around fishing spots with old people that live by off their social security checks and a little side hustle. It's definitely 'trashier' but I'd rather live in a trailer then an apartment complex all day long.
The other key is having it large enough to where you can have an on site person that you supply housing and a little pay that does the basic maintenance, landscaping, and rent collection. Then all you do is basic over view and pay the bills.
The other key is having it large enough to where you can have an on site person that you supply housing and a little pay that does the basic maintenance, landscaping, and rent collection. Then all you do is basic over view and pay the bills.
This post was edited on 12/4/17 at 9:01 am
Posted on 12/4/17 at 8:57 am to TigersHuskers
Seems like it would be pretty damn profitable. Most of the cost is one-time expenses for the land, having utilities run to the individual lots, and cost for gravel or paved roads and driveways. Can probably rent spaces out for $200-400 a month depending on location and fit about 15 or so spots per acre of land.
Posted on 12/4/17 at 9:23 am to Twenty 49
quote:
quote:
I'd go the mini storage route.
Same. That and the boat/RV parking places seem like they would a lot less hassle to operate.
Older guy I knew through work at 1st company had a small mini storage place that backed up to my 2nd employer.
He stopped by to say "Hi" and show off one day out of the blue. He was showing off the fully restored '68 Mustang convertible he got from an abandoned unit. He was just on his way back from getting the title swapped in the repo.
He did say that was by far the best he repo'd, but he did get occasional jewelry or TV that were worth some bucks.
Posted on 12/4/17 at 9:35 am to TigersHuskers
Paid for my college, 20 years ago. My dad and a group of people he worked with formed an LLC and developed one, complete with paved road.
They did owner financing on the lots - 1% down, 1% a month for 15 years or something like that. Thing is, 2/3 of the residents will default. So, they'd get a couple of years' of payments, then the people would get two or three months behind and they would foreclose.
Dude wouldn't move the trailer, so it becomes part of foreclosure and you get a portion of that, too. In the meantime, value of the lot has increased slightly and you sell it again, keeping all the money you got from the first aborted mortgage. Talk about a cash cow!
They also developed a regular housing subdivision, but didn't build the houses. Made some money on that but nothing like the profit on the trailer park because the bank would include the property purchase in the mortgage, meaning you only got paid once for those lots.
Moral of the story: the big, easy money is with the poors.
They did owner financing on the lots - 1% down, 1% a month for 15 years or something like that. Thing is, 2/3 of the residents will default. So, they'd get a couple of years' of payments, then the people would get two or three months behind and they would foreclose.
Dude wouldn't move the trailer, so it becomes part of foreclosure and you get a portion of that, too. In the meantime, value of the lot has increased slightly and you sell it again, keeping all the money you got from the first aborted mortgage. Talk about a cash cow!
They also developed a regular housing subdivision, but didn't build the houses. Made some money on that but nothing like the profit on the trailer park because the bank would include the property purchase in the mortgage, meaning you only got paid once for those lots.
Moral of the story: the big, easy money is with the poors.
Posted on 12/4/17 at 9:45 am to TigersHuskers
quote:
Ill even include a bar in the center for all the stupid poors to spend their money.
Better idea would be a convenience store that sold lotto tickets and scratch-offs.
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