BiggerPockets

Hi Michelle,

Are mobile homes a good investment and if so, why?

How are they titled?

Thanks,
Jonathan

Hello Jonathan...

the answer to both questions is " It depends" ...

Mobile homes are always going to be a depreciating asset. If you own the land the mobile home sits on, you will be better off. In states like CA and WA mobile homes are a good investment because they are considered affordable housing. This is not to say you cannot make money buying, renting, and/or selling mobile homes in states like North Carolina or your own state of Colorado. You just need to make sure you have good resourses in determining fair market value and obtaining clear title and invest accordingly.

Mobile homes are titled just like cars, and most states (exceptions include TX and CA) issue titles through the local DMV. If the land that a mobile home sits on is also owned by the mobile home owner, the title to said mobile home may be deactivated (also called being cancelled or retired to real estate) by the DMV and made part of the real estate. Once the DMV deactivates the title and the county assessor is notified, the mobile home will be taxed as real estate along with the land.

These are short and sweet answers. If you need more detail or state-specific questions, do not hestiate to email me.

Michelle the Mobile Home Queen

Hi MIchelle...
I'm in TX... how's it done here? I know they have financing issues for Con/FHA and need the foundation...

What else is different? THANKS!

"Mobile homes are titled just like cars, and most states (exceptions include TX and CA) issue titles through the local DMV. If the land that a mobile home sits on is also owned by the mobile home owner, the title to said mobile home may be deactivated (also called being cancelled or retired to real estate) by the DMV and made part of the real estate. Once the DMV deactivates the title and the county assessor is notified, the mobile home will be taxed as real estate along with the land.
These are short and sweet answers. If you need more detail or state-specific questions, do not hesitate to email me.
Michelle the Mobile Home Queen"

Michelle
I have a couple questions regarding mobile homes. But perhaps background info should be provided first.
I purchased a property at tax sale that had a mobile home on it. The taxes were for both the land and the mobile home. The assessor had combined them (the taxes) together. After waiting my redemption period and doing all necessary requirements I finally got my collectors deed. A few months later the mobile home dealer came and hauled the home off, saying they were the legal owners of the mobile home. I am now in the process of trying to have the taxes lowered because apparently someone thinks I did not purchase the mobile home, even though I had hoped I had. I paid the taxes on it. I am also trying to get the mobile home back or having the taxes I paid at the tax sale reduced.

Missouri allows the assessor to combine the two taxes (land and mobile home) if certain things have been done such as removing axles, wheels, tongue and placing home on a Permanente foundation. Also land and mobile home must be owned by same person. Two main things I can not figure out.

Question 1. What is Permanent foundation? I have asked several assessors and each give me a different definition. I have asked 2 or 3 lawyers and each give me a different definition. I even called the DMV (Department of Motor Vehicles, the DOR (Department of revenue, the MVB (Motor vehicle Bureau) and get a different definition from each. Our State Statute does not give a definition of "permanent" only that the home must be placed on a "permanent" foundation for the taxes to be considered real estate taxes. http://www.moga.mo.gov/statutes/C700-799/7000000111.HTM Checking the Statutes further under definitions http://www.moga.mo.gov/statutes/C700-799/7000000010.HTM I notice in item #5 it talks about "without a permanent foundation".

Question 2. Once a mobile has been converted to real estate can it be reconverted back to mobile home status?

Don
To me, therein lies the problem. One entity calls one thing a permanent foundation and someone else calls something else a permanent foundation.
My ultimate motive is two fold. One to get the taxes lowered and one to get the mobile home back. I look at it as --- if the mobile home was called and taxed as real estate then it should have sold with the land. If that is the case then the mobile home dealer "stole" the MH from me. If it was not real estate then there should have not been such high taxes on the land. The majority of the taxes should have been personal property taxes on the MH. If that is the case then the original owner of the land should have not been charged with such high taxes on his land. It could be a can of BIG worms. I think it will be interesting. I have put in a request to the state tax commission to have the issue looked at. We will see.

Hi,

I have a Mobile home I sold and the buyer is 1 month in arrears. Sent him a 3 day and no response.

I'm needing to know the process flow for repossession. I gather I need to get a judgement against him.

Any Info would be helpful.

Thanks,

Larry

Reply to Scott Merritt,

In California most titles are issued with the Ca Department of Housing and Community Development. They can be reached at 916-445-4782. If the home is less than 39 feet long it can be titled at the dmv.

Unfortunately I have never had to personally go through the Ca foreclosure (hooray!) process so I'll defer that area to someone else, but it is always better to stay OUT of the courtroom than look for ways to go in, but sometimes it is unavoidable.

Best of luck,
John Fedro