change in bi laws

[juicetoe]

i am an investor in Bucks county Pennsylvania, buying mobile homes within a retirement community for a few years. Recently, the managment has made a change to all new lease agreements.
IN ADDITION, PURCHASERS MUST ALSO VERIFY THIER INTENTION TO OCCUPY THE PURCHASED RESIDENCE AS THIER PRIMARY RESIDENCE.
This prevents people like me from buying. Also restricting the ability to sell.
I just put a home under contract and was officialy NOT APPROVED.
Does anyone know if that is legal? Has anyone run into this problem? I know I can circumvent this by being creative but what gives? I play by the rules.

Juice

[David Oxhandler]

Park owners can, in most state, restrict sales or transfers in the park by way of their lease agreement with the home owner. I'm not too sure how they can change the rules with out getting each home owner to sign a new lease. This would be a legal issue based on the particular mobile home park - landlord tenant laws of your state. Contact Pennsylvania M/H Association at (717) 774-3440. The folks there would be best equipped to discuss the particulars of the state MH Park rules.

I also have been making "Lonnie deals" for many years. I have run into park owners that were delighted to have me paying rent and others that were greedy and refused to let anyone except a resident to own a home. I have also run into parks where the lease permits ONLY the park management to resell homes. Experiences has taught me that it is best to avoid the parks where management doesn't want you. Legal or not the park owner/manager can make it very difficult for you to buy, sell, or renovate and it is just not worth the hassles and aggravation. Selling homes of any type using any methods in today's economy is difficult enough. There is still a national disenchantment with home buying. Don't take on the added handicap of a hostile landlord.

Over the years I have moved away from operating in other peoples parks to buying and reselling homes on private property and owning a park myself. While this takes a greater dedication of cash the returns, especially if your holding the note. But the added profit and ease of operating more than justify the additional expense. Once I own that place the only thing I have to do is avoid crossing the building and zoning regulations. If I decide that the location would best support the quick sale of a pink home I can paint it florescent pink and there is no one to tell me "NO".

You might be surprised at how easy it can be to purchase a mobile home park where you can operate by your own rules. There are many available today with too many park owned homes that would make a great investment for someone with your understanding of the note-cash flow business - See http://MobileHomeParkExhange.com

For a good read on the best way to structure the home/land sale to maximize profit and minimize risk, see The Lease Option Buy

You can find Lonnie Scruggs classic "Deals On Wheels" HERE... or download the electronic version HERE