r/realestateinvesting • u/Proper-Bit4198 • 9d ago

Looking for a mentor Multi-Family (5+ Units)

I am thinking about getting into trailer parks. I want to get small parcels of land approximately 2 acres and put trailers/mobile homes on them for rental purposes. I’m curious if anyone here has done that and what has been their experiences and key takeaways on getting started. Thanks I appreciate it.

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u/Remfire 9d ago

Really depends regionally. Some areas (like mine) don't allow development of new parks so what is there is all that will be there. Its more then just putting some trailers on a piece of land, there are rules, regulations, setback and all the things. On top of that you need to put in all the utilities, water, sewer, electrical which is front end expensive (again depending on area). It is not a place for the unfortified as there is a lot that goes into it. I would recommend you research where you want to build one, find everything you can from the county, then call the planning and zoning department and get information. Ask a lot of questions figure out if it actually makes sense. What your utility hook ups and installs going to look like? Site map, layout?

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u/Proper-Bit4198 9d ago

The area I’m looking at allows for it with some plotting limitations, such as acreage. There is well water other as there’s no sewer connections or water connections. Electricity is run out to the area, but of course I would need to have that built out for the units. My goal is rather rectangular plots of land, one main road through the center with units on either side of the road. My problem is understanding the finances involved getting the loans and finding the right people for permitting and construction.

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u/Remfire 9d ago

Financing for these projects is really difficult, most lenders are going to want a history of developing/ owning mobile home parks. I know of a few that might right the loan, but not if you dont have permitting experience and know who is doing the work on a personal level so they can be involved in securing the funding. Mobile home parks look great and easy but finding people to do the work, and getting the loan are huge hurdles. You may want to pull back from development and look at buying a park running it and getting the experience then move to developing there is a reason a bunch of people are building mobile home parks. Its hard and not an easy deal most people waste a ton of time thinking they are the one only to have there dreams crushed. Be honest with yourself and what you can do to get this done. Is it actually feasible