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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?
Thanks in Advance!
Garret
All good questions.
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.
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