When looking for land to place a Mobile Home on, could someone walk through the Due Diligence required to ensure that I have a property that can be used for a mobile home? What departments with the County will I be contacting to inquire about approvals? What else would I look for? What should I stay away from?
The answer is, it depends on how involved you want to be.
Hopefully the land already has water lines and electricity to the property. A HUGE plus if it already has a septic system.
If these things are not available, you need to determine what it will cost and how long it will take to get a permit to add them.
OR, you could sell the land “as is” and let the buyer deal with these things.
If it is a huge tract of land, what would it cost to get it subdivided? This could be time consuming and expensive.
I think it would be a good idea to visit with a few new mobile home dealers. Ask them what are buyers looking for. 1 acre? 5 acres? ??
with or without utilities?
Once you know the answers to thee questions, then you have a better idea of what kind of land you need to find and you’ll have more confidence that you’ll have buyers ready to buy.
Just like wholesaling, I suggest you start with the buyers. Know what the buyers want to make your land deals a slam dunk deal.
I’d also keep an eye out for land that previously had a mobile home but maybe it was repossessed. That land is ready to go for a new mobile home. You may even be able to buy the land with seller financing then you could sell with seller financing with a wrap.