When to Put a Mobile on Your Land (LI 697)
Transcript:
Steven: Steve and Jill here.
Jill: Hi there.
Steven: Welcome to the Land Investor's Show, entertaining land investment talk. I'm Steven Jack Butala.
Jill: And, I am Jill Kristine DeWit, podcasting from sunny Southern California. Had to throw in there.
Steven: With the K.
Jill: With the K.
Steven: Like the killer car.
Today Jill and I talk about when to put a mobile home on your land and when not to.
Jill: I know you're going to have some good ideas about this.
Steven: I have multiple stories, multiple beautiful stories with happy Hollywood endings about mobile homes on land.
Jill: I bet 99.9 to 100 percent of the time, it's never a bad thing. It's just, depending on your budget, your market, and all that kind of stuff.
Steven: Here's a preview: imagine you're looking through the internet on Land Pin or wherever you look at land to buy it, and you flip through ten properties in XYZ county, and then, there's one with a mobile home on it. That's number eleven property that you look at, and it's priced just like all the others, I don't care if the mobile home's half burned-out. Are you going to click on that and look at it, and say, "You know what?"
Jill: It's going to get my attention.
Steven: "Somebody must live in there."
Jill: They figured it out.
Steven: "Somebody had a 'Little House on the Prairie' moment." It's not hard to make that jump.
Jill: Exactly.
Steven: Before we get into that, though, let's take a question posted by one of our members on the landinvestors.com online community; it's free.
Jill: Okay. Mike asks, "I just want to see how others were checking on HOA, Home Owner's Association, status on their land deals. Basically, how do you check to see if there is an HOA?"
You know, it's funny, I saw this question the other day, and I weighed in on it.
Steven: Oh, good. They can answer it on the air, then.
Jill: I actually put a note in there, because I was like, "Hey, good for you for thinking of it and checking it ahead of time because usually, what happens is, you learn about these after you good one up." After, you realize, "Oh no, I just bought and sold a property that had an HOA on it and it had $800 in back fees." That's usually how it goes, unfortunately. And, you go, "Well, I will always check that." So, sometimes, it's a little tricky because it's not on the deed; it doesn't smack you in the face.
So, first thing that everybody was actually weighing in on in the forum in our online community was, ask the seller. Yes, first, that's your first thing. Number two, I would do some checking, and usually, if it has a subdivision name, that's going to be a first clue. It's not always correct; there's some subdivisions that do have and some that don't. And, some properties, you can't tell. But, if it's, like, in Glenn Oaks Ranches, there's a pretty good indication-
Steven: That's subdivided property.
Jill: Right. That there could be an HOA and you need to dig a little further. And, you could put in the name of that and do some internet searching, and nine times out of ten, you will find it.
Steven: That was my suggestion.
Jill: And then, the third one is, ask the county.
Steven: Yeah. That's what I do.
Jill: Because, they communicate back and forth because,