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re: how profitable is owning a trailer park?
Posted on 12/4/17 at 1:31 pm to deNYEd
Posted on 12/4/17 at 1:31 pm to deNYEd
quote:
My FIL is huge mobile home dealer
I would imagine there is a huge profit margin on mobile homes huh? This was probably a few months ago, but someone was telling me about a person we both know, who just makes bad choices in life.. Evidently this person was in a wreck and got a few hundred thousand. So they used the money to buy some land and a $175k trailer.
Which has to be the stupidest thing a person can do. Unless I am missing something. I assume the value on a mobile home depreciates relatively quick why not build a fricking house instead?
3
Posted on 12/4/17 at 1:32 pm to deNYEd
Oh and my point is.. $175k for a mobile home. I would imagine the profit margin is over 50%..
Posted on 12/4/17 at 1:46 pm to Collegedropout
quote:
Your friend might be the ultimate soy boy but that sounds like a pretty dope life, not going to lie.
Not at all, he is the ultimate Trump supporter and lives like he is still in a frat. You can walk into any bar in Cabo and tell them you know "Porno Josh" and the workers will give you a highfive along with a free drink while laughing their arse off.
Posted on 12/4/17 at 1:50 pm to OweO
quote:I used to think like that too...but then a good friends super nice double wide burned to the ground(thankfully nobody was hurt),and another friends flooded last year.rebuild?nope...wheel the remains out,and wheel another in!
I assume the value on a mobile home depreciates relatively quick why not build a fricking house instead?
This post was edited on 12/4/17 at 1:53 pm
Posted on 12/4/17 at 1:53 pm to OweO
There are zero trailers that are that much Chris...,.
Posted on 12/4/17 at 1:56 pm to dukke v
quote:
There are zero trailers that are that much Chris...,.
You can buy some pre-fab homes for that much, but they aren't really trailers - just shoddily built houses that cost $70/sqft
Posted on 12/4/17 at 2:00 pm to jmarto1
Aspen MAnsion
This chicks husband is a trailer park baller for real... he got rich off them, check their aspen crib.
This chicks husband is a trailer park baller for real... he got rich off them, check their aspen crib.
Posted on 12/4/17 at 2:01 pm to trillhog
Holy shite that is garish.
Posted on 12/4/17 at 2:10 pm to TigersHuskers
My Dad owns one. He makes great money, but it took a while for it to cash flow. As others have said, own the land, not the trailers.
NSF checks and meth drama are real issues. If a resident wants to put up a shed always say no. It is a meth lab 100% of the time.
NSF checks and meth drama are real issues. If a resident wants to put up a shed always say no. It is a meth lab 100% of the time.
Posted on 12/5/17 at 8:21 am to OweO
quote:
I would imagine there is a huge profit margin on mobile homes huh?
He is largest private dealer in nation. He operates on a volume model so he is probably closer to 15-20% margin, but has 5 locations or so and I know he can sell upwards of 60 units/month at one location
Posted on 12/5/17 at 8:25 am to dukke v
quote:
There are zero trailers that are that much Chris...,.
Wrong! go from 39k-225k
Posted on 12/5/17 at 8:42 am to TigersHuskers
Have a terrific law firm on call to assist with ridding you of the deadbeats. Run all electrical/cable/gas/phone through a master switch and pocket some cash through as the utility middle man.
All good trailer parks need retail too--a tattoo shop and convenience store are necessities for larger ones. I own 12 throughout the US primarily in Texas.
Cut a deal with the trailer dealers and offer trailer financing on the land they are renting from you!
All good trailer parks need retail too--a tattoo shop and convenience store are necessities for larger ones. I own 12 throughout the US primarily in Texas.
Cut a deal with the trailer dealers and offer trailer financing on the land they are renting from you!
Posted on 12/5/17 at 8:46 am to MrLSU
Posted on 12/5/17 at 8:51 am to TigersHuskers
I've appraised several trailer parks and when you use the income approach to valuation, they all make good profit.
The best way to make money at it is to buy crappy mobile homes at auction (flood damage, etc) and then put in sweat equity to remodel. You can be in it for a few thousand per MH and recover that in 1 year of rent.
The best way to make money at it is to buy crappy mobile homes at auction (flood damage, etc) and then put in sweat equity to remodel. You can be in it for a few thousand per MH and recover that in 1 year of rent.
This post was edited on 12/5/17 at 8:53 am
Posted on 12/5/17 at 8:52 am to TigersHuskers
Distant relative has a few.
He makes serious bank but is always complaining about what a hassle it is to deal with the tenants. "I'm tired because I got a call at 3 am that Billy Bob from lot 43 and Raylene from lot 13 were throwing rocks at each other. Raylene's mom didn't want to call the cops because she has warrants"
shite like that.
Seems like the best route would be to hire some type of superintendent but he's a cheap bastard.
He makes serious bank but is always complaining about what a hassle it is to deal with the tenants. "I'm tired because I got a call at 3 am that Billy Bob from lot 43 and Raylene from lot 13 were throwing rocks at each other. Raylene's mom didn't want to call the cops because she has warrants"
shite like that.
Seems like the best route would be to hire some type of superintendent but he's a cheap bastard.
This post was edited on 12/5/17 at 8:54 am
Posted on 12/5/17 at 9:14 am to skullhawk
Two trailer park girls go round the outside, round the outside, round the outside
Posted on 12/5/17 at 9:16 am to skullhawk
Mobile home parks are expensive. Asking price on most lots are 18 to 27,000 and if there's a mobile home on there you can triple it 80000k. I've seen lots of parks trying to sell for 10-20 lots for 1-2 million. Everyone wants to sell and attend camp, so the hardest part is finding one that is undervalued, and then coming up with the down payment, and then finding someone to give you a loan on a trailer park.
Posted on 12/5/17 at 9:19 am to Rust Cohle
My brother has 2 "mobile home estates"....he has 10 newer trailers in each, at $800 a month, each.....that his retirement plan.....
His renters are about 80% plant workers, and the rest, poorer folks he just helps....
His renters are about 80% plant workers, and the rest, poorer folks he just helps....
This post was edited on 12/5/17 at 9:21 am
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