MHP manager ???'s

[4M]

Hello,  I'm looking at an out of state MHP and trying to run the #'s on it's performance. The park is almost all park owned homes, and is owned and operated by a family, and they basically do everything. This makes it harder to figure it's true performance? Can anyone help me with a figure or average idea on what managing it might cost.  Any ideas or thoughts would be greatly appreciated.  Thanks, 4m

[cainvestor]

How many park owned homes, how many leased lots?  If it is 50 or more, using manager is cost efficient.   If you have less than 50, doing out-of-state might be  a big issue for you.

[4M]

Thanks for the reply,   The park has about 50 park owned homes, and a few rented spaces??  Any ideas??

[primeproperties]

Hi,

In looking for a client for a MHP with around 50 units, I found out that for an on site manager, usually, a house where they can live is given, plus minimum wage for the expected hours.

This of course depends on the state (the actual state, not the condition!) of the property.

But why don't you just call a few MHP's and just ask. I am sure that most of them are willing to help. I think you can find listings of MHP's in the Yellow Pages (online).

Maybe this is not the exact answer you were hoping for, but it could be a place to start.

Good luck.

Cordially,

Joyce

[tc4gold]

Just read your post and had an idea for you. You might look for an onsite manager positon with the idea that if you are doing well you get credit toward the purchase price of the park like a lease option deal. This would give you experience in rehabbing, managing, advertising and tell you how much the park makes now and it's future potential. Of course you would have to be willing to move to do that but it might be a way to get started. In fact it has given  me an idea for selling my park in Arkansas. It is hard to get a good manager now adays so working the park just for free rent and credit toward the purchase price might be a creative way to deal with potential sellers. Loans are hard to get on MHP's but if you are willing to pay the full price, the seller can perhaps sell the note for a discount so they get their money of out of it and it would be eaiser to sell the note if you were living on the property as the new owner.

[Data]

Im new to this so take it for what its worth..but i have lived in a MHP for a while.. Look at the homes check to see if there newer or older, whats the price of  their rent, talk to the people who are living there now.. it may take a trip or 2 to see the place and get soem info... for what it worth.. good luck