Mobile home parks typically have a specific set of rules and regulations that are very important to know. Depending on the park, these rules and regs will differ. Its helpful to get a copy from each park so that you can know just exactly what you are and are not allowed to do with the mobile homes in each park. In this video I want to share with you a few of those differences and some things to look our for.
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Hi, I’m Chimene Van Gundy, best selling author and mobile home millionaire. And today’s video is on understanding mobile home park rules and regulations and what are they? The very first thing that I want to tell you to do, and the one tip that I can give you is always walk in and ask for a copy of the rules and regulations. This is really important and I’ll tell you why and this video later, but the first thing that the mobile home park is going to want to do is tell you that you have to get qualified while why you’re not the one living in the home, right? You just want to fix it up. You explained to them that you’re going to be buying the mobile home as an investment. You’re going to be fixing it up and you’re later going to owner finance out the house to somebody else.
Now, the reason why getting the park rules and regulations, is important is because the park may tell you, well, we don’t allow rentals. That’s okay. If it’s not in their ingredient, then they can’t say anything about it, right? You want to always make sure you get the park rules and regulations for that. Now, they may not allow rentals, but there’s nothing that says that you can’t own or finance out that mobile home and be the bank, so that’s why it’s important for you to always have a copy of those rules and regulations so they can’t try to pull one over on you. The second one is making sure that you know what repairs the mobile home park requires. What things do they require for the upkeep of the mobile home? Does it have to be painted a certain color? Some parks don’t allow like bright bright colors in their park. Those are very, very important things that you need to know. Maybe they allow certain things for landscaping and not others. All of these are things that will save you money.
Also qualify your buyers. If you’re going to be owner financing out the mobile home, you want to make sure that your owners are qualified. You also can send them to the mobile home park because typically they’ll run a background check and a credit check on them. You just want to confirm that they have enough income to make those payments and always, again, make sure that you get the park rules and regulations so that you are well informed. So if they try to tell you that something’s not allowed, you can say it’s not in your regulation and park roles that way. Always knowledge is power and you have the upper hand when you understand mobile home park rules and regs.
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