Mobile Homes

Yes. I also have a question about mobile homes.
I found a mobile home recently selling for under $5,000. But the space rent is $545.00 a month.
How can you make money on that deal? >Find a renter to cover the costs and maybe have a positive cash flow if you are lucky?

Michael B

I didn't even know what mobile homes were until i moved to Louisiana or sometime called trailer homes. The town here where i live they have a lot of mobile homes or some called trailer parks.

I would suggest that you find you vacant land with water and sewer and purchase the property. You would then put four, five or even ten mobile homes or trailers in there and let them pay for themselves and put $$ back in your pocket.

It would be a great investment if you do it right. You put everything in one loan and the benefit is far more greater. I can't believe they charge you $545.00 for a space. Here's the space are noramlly from $100-$200, but $545 is outrageous.

The average rent for the mobile home or trailer is $300-$400 and plus the space is roughtly about $400-$500 depending on the area.

Now, here's another senario or what we call thinking a little different. If you paid $5,000 for the mobile home, and you don't want to pay $545 to rent a space, then sell to the property owner for $7,000-$9,000 since he already has a spce. If he charges $545 for space, then mostly like he would charge $700-$800 for rent. He will get his investment back in a year. Good luck and happy investing!

LL

Lloydsap has the right idea. Mobile homes are little cash boxes, if you know what you're doing. Purchase it for well under the $5k, offer $2,500. Then you can resell it for $5k and make a nice little profit. But you're definitely on the right track!
God bless,

try "manufactured homes"
jrgnsn

Mobile Homes have terrible resale value. There is a lot of money in buying a huge lot and starting to put trailers on it. But you have to remember that there's a different type of people who usually inhabit those types parks and you have to be ready to deal with all types of situations.

You can also buy and re-sell mobile homes, I guess. But that's pretty hard to do. They just don't have a lot of value when you try to re-sell them.

It's almost like buying a car. I don't think they appreciate like most real estate. At least not here.

Thank you for speaking up. It is ALWAYS best to hear from someone with experience in an area. I apologize for putting in what was a blanket statement. I don't normally do that. I do believe that in our area of extreme cold and snow that mobile homes don't appreciate or last like a more solid structure, but that definitely might not be true elsewhere.

Thank you again,

Rina

I'm still going to stand by what I said. They do have a terrible resale value. But if you can get them dirt cheap, fix them up and resell them for a profit. But that's great you were able to find those deals! I'm proud of you. But I think if you say "I always make money on flipping mobile homes." you'd be misleading people a little bit.

I already apologized. You can ask any of the regulars here that I'm one of the most easygoing people on the forums. There's no need to be crabby and pick fights. I'm still proud of your deals. and you're welcome to repost them.

Thanks.

Did I miss something here? LOL!
Well, I just wanted to add that I've seen some of the 55+ mobile home parks and they're actually pretty NICE. They have quite a few ammenities like a clubhouse, internet access, heated pool/spa, large T.V.'s in clubhouse, and more... Pretty nice place to retire if you ask me and they're quicker to pay off than say a condo, townhouse or home. So they're not just for Jerry Springer cast members any more... LOL! Just kidding. Tryin to lighten the atmosphere here, boy I can cut it with a knife!
*not even crickets chirpin now*
Continued blessings everyone,

Like i've said in my first post, i've never knew what mobile homes were until i moved here. What might work for you might not work for someone else. I was only responding to those that acquired about the info. If it doesn't apply to you, then don't worry about it, and let the individual acquired the information decided for themselves.

This is a positive form to share ideas and help each other out about their investments opportunities. If you feel that mobile homes have no re-sale value, then that's your opinion and i know that as well, but i was merely responding to the question. I live in the south now and there's tons of mobile homes around. What works for someone in the big city may not work for you in a small town in the south.

If someone purchase a mobile home for $1,000 and decided to re-sell it for $5,000, then i think that's a great investment. In fact i would buy ten and re-sell them all. If he/she doesn't want to pay $545.00 for a rent space, then that's personal decision, but i was only providing other alternatives or what Dean called "thinking a little different" Otherwise, if you don't want to contribute anything positive in the forms, then butt out.

We all live in difference part of the country and some may not have the luxury or the means to ivest in real estate that some of you may have. Some may only have $1,000 to invest in mobile homes and buying mobile homes for $1,000 and re-sell for $5,000 then that's a hell of investment. I will do it the heart beat if i find deals like that. Don't hate, but appreciate!

LL

I think mobile homes are a great way to start investing. I started with a mobile home and it made me a good little income for over a couple of years. So I agree, if you don't have good credit and only a little money to start with, mobiles are an excellent choice. I don't know what happened here either, but I also agree with Lloyd on this point; comments in this forum are to share knowledge and rei experiences, not to bash anyone. So let's please keep that the main objective here. If you don't agree with someone please don't knock them for sharing it with us. Let's treat one another with respect and equality, and give everyone the chance to speak freely.
Continued success everyone,

I once was an owner of a mobile home in Fla where I live in my early 20's. Good place to live when single making $10 an hr. at that time. Then moved back to Chicago and rented it out. No, appreciation is very little if any, but in Fla they are licensed like a vehicle. Depending on the situation, rented out, they can give you good spending money, or now a days, gas money.

And let's cheer up out there!!!!!!! we are thisclose to a great retirement.

Bruce
Homes On Course

I have looked into mobile homes and feel there is an excellent cashflow opportunity with them. Especially if you buy them cheap and sell them as a lease option. The numbers look great. It should be very easy to generate between $100-$200 per month on each mobile home. I also pay close attention to trends and mobile home sales are trending up significantly! Also, you can buy them with no money down if you create a buyers list first. I always recommend (as does Dean) to find your buyers first. Obviously, buying the park is an even greater opportunity which can generate substantial cashflow. If you live in an area that has single family homes that don't cashflow due to price, become an expert on mobile homes and become financially free.

Exactly, CBR! I merely said it was hard to re-sell a mobile home flat out. But there's obviously an opportunity renting or leasing them out. I think the topic became a little skewed, but I totally agree with what you're saying.

Well said.

I have worked a lot with mobile homes and have really enjoyed it and have found that if you do it in the right way they are a great way of generating quick cash and cash flow. Although I'm not focusing on them right now I was very involved in the mobile home industry last year. There are a lot of creative ways to make money with mobile homes but one of the ways that I had a lot of success was working with a mobile home mover. He would work on parks that were closing down and he would need to get rid of the mobile homes. He would already get a check for moving the mobile home so I would basically pay him for the move since he would trash most of them. I would then sell the mobile home on a note. It was a great way to get some quick cash in my hand and then build some cashflow at the same time.

aint that bad at all! If you plan accordingly and have a plan of actions, everything will work out just fine. I'm not saying that mobile homes will turn you into a millionaire, but it's a good place to start for some of us. Thanks everyone for your imput!

LL

1) If you (or anyone else) have a grievance, PM me. Please, do not jump to conclusions and especially do not post diatribe in the public forums.
2) This was a isolated incident I can assure you will not be happening again, so sorry for that.

Wanted to clear that up... case closed, let's get back to mobile homes.

Manufactured homes in Washington are all over the place. The are huge and gorgeous sometimes and can be put up on a site in a couple of days. They also have Hi-line homes that are cheaper and put up faster, kind of between a regular stick built home and a mobile home. Depends on what you can afford or if you want to move it somewhere else someday.

I wish I'd known more about investing when I had mine, that baby would still be bringing me $800 a month income! I only had to pay the taxes and insurance on it. I ended up selling it for $22,000. But I made another $19,200 renting it before I did. So I gotta say mobile homes are a great way to get started!

At the beginning of this year, we purchased a used 1979 mobile home for $800 and resold it on contract for $5,500. As of next week, we'll have recovered our investment and made a 50% profit already, and this is only the first six months of the contract!

In April, we purchased another 1979 mobile for $799 and just resold it for $5,500 on a contract. With the down payment and first month's payment, we have already recovered 59% of our investment. In just under three months, we will have recovered our investment and will be making pure profits! Now I think mobile homes are a wonderful way to generate cash flow for investing in other real property. But that's my opinion and may not be shared by others.

Thanks for giving us another chance investn2day. Glad you shared that with us again and what a great return! Wow, I'm impressed!! I thought I made out like a bandit with mine... LOL! I might have to start looking into mobile homes again. I hope you will post more experiences with us, feel free to start your own journal too!
God bless you,

I appreciate all your responses concerning Mobile Homes. I had forgotten that up north they are not as plentiful. I live in a rural area of Texas where there are very few rentals. Most of our mobiles are on acreage, at least one. My first encounter was a 2,400' foreclosure on 1 1/2 acres that was leased/optioned before I had closed on the property. They did not follow through with their option to purchase but elected to stay on the property. I clear several hundred in rent monthly and am now looking for more cashflows. You guys are right, the resale is not good, except for the land involved, but they are great cashflow and inexpensive to get into.

Diane

So where do you start with rehabbing mobile homes. I have ran across a great oppurtunity but I have not clue where to start. Please give me so direction. Need help really bad...

Hello everyone.New to site..ordered Dean's Book and can't wait to get started with it all. I have tons of questions but not going to bother with any of them right now. Just thought I'd say Hello. Reading through the forums has really been helpful. You guys seem really enthused about what you do and I have the desire to be on that level. Hope to hear from everyone soon..

Grassroots IN

Good Morning Grassroots,

Welcome to the DG Family. Lots of knownledge on this forum. Have a good time gaining in the REI industry.

The common idea is that a mobile home is not a good investment. These kinds of investments can be a great investment and some parks can increase a mobile homes value. Do not fall into the idea that if I buy a mobile home I will lose my investment. Mobile homes are great investment and HUGE money makers for those invest into them.

If you fix up a mobile home you have forced equity and increased its value.