OfflineWhen investing in mobile homes there are challenges. Namely:
Value
The mobile homes value will not appreciate as a SFR will. There is a stigma that all mobile homes depreciate. Some homes in great parks possibly with land can appreciate.
Because mobiles homes are looked at like personal property they depreciate differently.
Mobile homes in parks
You may purchase a mobile home in a park with or without land. If you do you will have to follow their quid lines on moving the home, owner occupied, resale and so on. You should know this type of information where you will purchase.
The mobile park management may have more control over your property than you do.
Mobile homes on land
You will compete with SFR's. People would rather live in a SFR than mobile homes usually.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
But there are also advantages to mobile homes.
1. They're cheaper to get into ($5,000 or less)
2. They're great for owner financing.(as per my last post) You can get one for a small down.
If you get to know the park manager, they can be your bird dog, offer to pay them a fee for every mobile home you buy. They will become youre best friend and you both make money.