Give others a chance to express condolences. Share on Facebook. Thank you. The My Memorials Facebook app allows you to: Connect with memorials that are important to you. Get updates on your memorials in your Facebook News Feed. Share your memories with your Facebook friends. No, Thanks GO. Olean Times Herald Archives. All rights reserved. Obituary Guest Book " thank you for all that you done for the people you will be Sprague Williams " I will remember the kindness and thoughtfulness of Bill and Sprague, of Yorkshire, passed away peacefully, surrounded by his family, Monday Nov.
He was born June 6, , in Rushford, a son of the late Forrest Sr. He served in the U. He later purchased the property in Yorkshire, which is today known as Twin Lakes Homes. He also owned Arcade Valley Estates and two other mobile home parks. He was a Cattaraugus County legislator for almost 20 years. He was owner and operator of Realty One Briardale. He served on the board of directors at the Bank of Holland. Through the years he never lost touch with the hands-on part of his businesses or shut his door to anyone needing his advice and counseling.
Friends may call from 2 to 4 p. Because they technically own the rights to the mobile home, you are not responsible for costly maintenance. Due to the interest on his loan, this person will pay you more each month than anyone renting a mobile home in the area. Most of the time, the person will be late on a payment or two and will flee during the middle of the night.
Anyways, I think I might have gone overboard with this post. The first is a mobile home park investing website that has some insightful articles and offers the investment course that got me started in this complicated but lucrative business. The second website is a directory and marketplace for all things related to the mobile home industry. You can find mobile home parks for sale on this website. The final website is the largest commercial property listing service.
First off BJmason32, went above and beyond and really detailed some of intimacies of the business. Because I broker in Florida and you pay a fair amount for the land value even in a slower housing market , the cap rates are a little lower then other area's where the land isn't worth as much. Every investor knows that it is Florida and the land in any decent area is still valuable. Florida and California are somewhat similar markets. California just has a little higher property values so inversely the cap rates are even lower. Basically the better the collateral if a Tornado wiped the whole site clean, what would the raw land be worth?
These communities trade anywhere from a 5.
The cost of moving and setting up a MH in FL is k, without the impact fee's of k, so most residents sell their homes, instead of moving them, also if they are delinquent on the lot lease, you have a free home. BJmasons idea of selling them the homes with a large down payment K , is great, but some area's and homes may make that difficult to accomplish, and you want to buy based on the current circumstances, incase you can't do any better then the current operator.
People who are active investors, tips for what materials to use, how to finance the deals and other things. It is a niche that many RE investors know nothing about. Hence the typical RE investment group will many times know nothing about the topic. Either use Google or send me a message as I can point you to some specific info that will help. I have meet a number of MH investors and few cross over to RE investing.
It is like the two groups do not mix. On a side note is mobile home park investing, i. Great thread here!! I think MHP are great for cash flow investors, but what about appreciation? Other than buying the park at a discount empty spaces for extra mobile homes, what are some other ways the park could appreciate? Improve operations, land appreciation Just curious. Thanks in advace, Jonathan. I'm no expert as you can tell, but I think the land is the most important especially if you live in an area where developments are popping up. Hi, a lot of you have good questions, but there are almost too many to respond to individually.
I have some good contacts in different parts of the country, so if you aren't looking in Florida, then I can point you to some of the best in other areas. And, as long as I don't get swamped with calls I should be able to give you my 2-cents.
I am in the Tampa area and would love to find out about some park investment opportunities from you. Thanks and sorry again about the communication issues. Investing in mobile home parks is a fantastic investment! Single family homes and apartments are a "one trick pony" with only one source of revenue… the rent payment. It is much easier to achieve your financial goals with mobile home parks due to the following reasons:. Provided you purchased the right mobile home park, there will be vacancies for you to bring in extra mobile homes.
Yes, that's right…. You're healthy, sharp and full of energy so you'll improve the quality of the park, raise rents and maximize your rent roll. By the way, this will immediately increase the value of your mobile home park through the cap rate valuation. The Upside: If cash flow is low you can add additional revenue by putting in a coin operated laundry mats, vending machines, lawn service, day care service, self storage, etc.
Now you have someone in your park that has pride of ownership and will most likely take better care of the mobile home than a renter. You can purchase the mobile home at wholesale cost and sell to your customer for retail.
Welcome to Triton Homes
In many cases, you can double your money on each home. Some of your buyers will not finish out the loan term and will give you back the home in good condition. Mobile home parks can be great sources of big monthly cash flow and equity. Ultimately most will become a land play. Over time I have found several great resources: This is a great thread as it cuts right to what makes investing in a MHP such a good investment.
Mobile Home Parks near Arcade, NY: Listed
I will take some issue with the post on vacancy, as filling spaces can be tricky. I tend to look for primary upside in under market rents and in utilities that can be sub metered. These can be huge bumps to your NOI.
- Best 1 Trailer Park in Arcade, NY with Reviews - akefiwifutew.ml?
- Twin Lakes Homes - Yorkshire, NY.
- Finding Mobile Home Parks for Investment.
You need to check in your due diligence with the state so you understand what sub metering consists of, as every state is different. In some state you have to register as a public utility! So watch out for that As for filling pads. I have found that to do this you need to purchase the homes, set them up and then sell them on payments.
You also need a lot of disposable income to do so. A word of caution: If your looking at this strategy you must have a park with enough pad rent to support a increased CAP rate. You really need to understand the relationship between a pad rented, the expenses and the total cost of buying, setting up and selling the home. In many parks pulling in homes is a wash at best. You might make your money back on the home, but is that your best investment dollar? This is a advanced technique for investors with skill sets in park management and in set up and sales of mobile homes.
One VERY important point on mobile home park investing,,,Make double darn sure the park is on city or similar water and sewer and NOT on private wells and septic s. Those regulations on public water and sewer systems will kill you,,,and result in a closed down park. Dont ask me how I know. Plan on doing triple financial highly invasive strip search for applying for a loan. There are no honest appraisers out there - it totally amazes me that as a Realtor for 10 years the appraisal ALWAYS came in at the asking price!
Loan brokers ask for 1.
Create an Account
Then should they not feel like coming to closing to pick up their check or having it mailed to them, they will reach into your pocket again and charge you a "wire-transfer fee" to have their check deposited into their account. It is really disgusting! Every investor I have ever talked with seems to be doing rather well. They stick their hands out for a handout from the minimum wage earners taxes to give themselves a bonus for bankrupting their bank??
The government takes the money out of the poor tax payers pockets reverse Robin Hood Syndrome? There are several ways to make improvements in cash flow. Increase income or decrease the expenses is the first area to look at.
Are rents low can they be increased? Can I offer additional services? Build sheds and carry paper back for those getting new sheds? Add storage lot - charge for storage?