Potential Real estate deal - comments appreciated

[spex x]

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the numbers look good on paper. But the management might be an issue. You have to remember the kind of clients your likely to be dealing with here.
how are the eviction laws where you live?

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I mostly work with these tenants already, so i'm pretty sure I know what to expect. The only thing with this property is the transience, which I dont' have at my other properties.

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How do they apply to "motel"/moble homes compared to standard apartment/house rentals?

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We're fortunate to have evictions laws and judges that tend to favor landlords. the eviction laws are the same for mobile homes as any other rental. the only problem is that evicted tenants tend to abandon the mobile home on your lot, so you've got to apply for a new title, etc. That takes about 3 months before you can haul the junker off and replace it. The mobile homes on this property are all park-owned and the seller has all the titles.

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What are the local laws on abandonment? this might be more of an issue with mobile homes as they can be considered personal property.

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30 days before I can declare it abandoned, 30 days advertising for anyone with equitable interest to claim it, 30 days to get a new title. All that before I can haul it off and trash it! Yikes.


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Looks like you have a good deal on your hands if you can get a reliable system for management. This could be one giant headache or a smooth + cash flow. Most likely somewhere inbetween.

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Yeah, I agree. I think that this property will take more management than most of my other properties. The key to this is finding a reliable person to manage the place for me. That is easier said than done, as you can imagine. But those people are out there.