I own Mobile Homes USA, (a licensed mobile home dealer) in Fort Myers and purchased this 3AC park with City Water and Sewer from the Mayor of the City. I need a working partner in the area to help me develop it out with FEMA homes I own or can buy and rehab from my other 13 AC Park w/pond in Selma, AL which is also available on request.
I have 9 Spaces with utilities around the right and back side of the park with 3 homes rented and room for 12 Mobile Home Spaces in the left and center for which I need to complete utilities for. I own the property free and clear so we can get a construction loan to develop these.
I have a FINANCE company that can fund tenants with only 5% Down -660 FICO score or 10% Down with 550 FICO so we can sell the homes to the tenants and also charge them monthly lot rent. I have a furnished RV on site for my partner or his employee to live in to oversee development.
I can buy 2 and 3 BR homes directly from FEMA in Selma in the $15-$25,000 area so should be able to net $10.000 per home we sell and receive $500/month rent. I also own a 13 AC Park with pond in Selma, AL which is 27 miles away that has 8 spaces that I use as a rehab and storage facility for used homes and repos. I have homes at this facility now which I have paid appx $10,000 per unit for that need some rehab at minimal cost that can be moved to Marion.
Therefore if we fill all 21 Spaces we should gross over $200,000 in mobile home sales plus
$500 x 20 = $10.000 per month x 12 = $120,000 in annual rent allowing 1 space for a property manager. Total development costs should be in the $50,000-$60,000 area which we should be able to finance with a construction loan using the property as collateral.
Finally- I can file with the State for a Mobile Home Dealership at this location so we can buy, rehab and sell homes both in and out of the park.