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January 31, 2017

Senior Community Mobile Home Parks

Senior Community Mobile Home Parks

Some folks reach the golden years without much cash jingling in their jeans.  For some a senior mobile home may make sense.  I recently worked with a buyer on one and here is what I found:

  1. Buying a mobile home in a park is really buying the privilege of paying a $600-900 per month lease.  Since there are no more parks being built, the leasing of the dirt is the important thing.
  2. In the East and North Bay areas, a trashy, old one would be around $80-100,000.  A decent one would be about $200,000.  And a really nice one would be around $300,000 in a place like Napa.
  3. Some of these parks are very, very nice.  They are not like the ones you read about with lots of little kids and a serial murderer or so.
  4. If you get a good slot with a trashy mobile home, you can get rid of the mobile home and buy a new one for around $80,000-$100,000 including the pad and set up.
  5. You can finance these places, but it is not like a mortgage, it is more like a car loan and expensive.
  6. If you have a place to park one, like on someone’s ranch, grab it.
  7. You can get one (condition unknown to me) in places like Turlock or Modesto for $30,000 or so.

If you have an interest in any of this, call or email me.