Have you ever thought of buying more than one mobile home in a Sarasota mobile home park?
Perhaps you were thinking of buying one mobile home to live in while buying a second mobile home to fix up and sell for a profit?
Or, maybe, you are looking to get into the world of mobile home investing and are looking at buying few mobile homes to rent them out to home owners who are in need of a safe, clean and affordable place to live.
Regardless of what you are looking to do it is important to know how many mobile homes one person can buy in a mobile home park before they begin in investing in multiple mobile homes.
Each mobile home park within the Sarasota Florida area has their own rules and regulations that outline these exact questions. This document is called the mobile home park prospectus.
The prospectus is, essentially, the dos and don’ts of a mobile home park, who can live in the park, what can be done on the property, how many homes someone can own and if they allow rental properties within the park.
Some mobile home parks around the Sarasota will allow an investor to purchase as many homes as they want and either fix them up for sale or to use them as rentals.
Many of these parks will allow the Buyer of the mobile home to be under the age requirement needing to be met to live in the homes. These parks are known as “investor friendly” mobile home parks and will require that anyone who is renting the mobile home from the owner be park approved but the owner of the home does not need to meet the age qualifications of the community.
Other communities will not allow rentals at all regardless of who buys or who is selling the mobile home.
While both of these tend to be on the opposite ends of the spectrum what we, at The Mobile Home Dealer, see most often is when mobile home parks allow an owner of a mobile home to own 2-3 mobile homes in the same park. This is where one single owner can have their primary residence and rent out or fix up and sell other properties all at the same time so long as the new Buyers who are moving in are approved by the park for residency.
It is important to always check with the park first to get a full understanding of what can and can not be done in each mobile home park you are looking at investing in. We would also stress to not just take the park managers word for it, but rather, get a copy of the mobile home parks prospectus and review it thoroughly so that you are well versed in all the inner workings and requirements that a mobile home park will have when you begin shopping for a home within the park.
If one does not fully understand all the regulations of a particular park and mistakenly violate the requirements set forth in the parks prospectus it could lead to a problem very quickly.
This is Mark Kaiser with The Mobile Home Dealer and we help mobile home Buyers and Sellers get to a better place in life.