New investor looking at mobile homes for cash flow

Tampa, Florida
Starting Out
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New investor looking at mobile homes for cash flow

Charles Blades
Member since 2024 · 2 posts · 1 vote

I am a new investor in the Tampa Bay area and I am looking at single family mobile homes as rentals. What are your thoughts (considering lot rent, the market, TB market, etc.)?

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River SavaPro Member
Lender · USA · Member since 2022 · 1k+ posts · 1k+ votes
2y

Hey Charles,

Welcome to BP and congratulations on starting your investment journey! I highly recommend joining local investment groups (Facebook is great for that) and attending local meetups, such as the ones hosted by @David Ramirez

I'd be happy to connect with you as well!

[email protected]
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  • Joseph Stern
    Investor · Tampa, FL · Member since 2020 · 287 posts · 152 votes
    2y

    @Charles Blades hey Charles, depends if you own the land or not. It can be an easy way to get into investing and solid cash flow and you can accumulate them quickly. Downside is bad tenants, depreciating trailer if you don’t own the land, and restrictions if the park if the owned by someone else. I’ve owned a few, it still can be a good investment for cash flow, feel free to dm me I get them off market time to time.

    2Reply
  • Charles Blades
    OP
    Member since 2024 · 2 posts · 1 vote
    2y

    Thank you for the response!

    0Reply
  • David Ramirez
    Investor · Tampa, FL · Member since 2019 · 1k+ posts · 1k+ votes
    2y

    Hey Charles,

    In my opinion, not owning the land is just like buying a car. Each year, the value depreciates, but you still need to pay for the land rent increase. You might be able to make money, but you have to factor in how fast that trailer will depreciate in value over the long term.

    I would go for a post-1976 manufactured home where you own the land and can get financing in place since it's insurable. Pre-1976 mobile homes are rarely financeable because they cannot be insured.

    I saw that you are also based out of Tampa. My partners and I have been running a real estate meetup for the past two years, and you are more than welcome to attend. If you wish, send me your contact info (number and email), and I can add you to the list of attendees so you get notified when the next one is coming.

    Best of luck! 

    2Reply
  • River SavaPro Member
    Lender · USA · Member since 2022 · 1k+ posts · 1k+ votes
    2y

    Hey Charles,

    Welcome to BP and congratulations on starting your investment journey! I highly recommend joining local investment groups (Facebook is great for that) and attending local meetups, such as the ones hosted by @David Ramirez

    I'd be happy to connect with you as well!

    [email protected]
    3Reply
  • Shelli Schilke
    Investor · Tampa Bay, FL · Member since 2023 · 42 posts · 11 votes
    2y
    Hi Charles,

    Good question as I was wondering about that myself. I just did a search on BP and saw your post.

    I'm a wholesaler in Tampa Bay and I recently pivoted to wholesaling mobile homes to investor landlords. I'd love to chat with you to see if we can help each other out. If interested, please DM me and we'll go from there.

    Also, thanks everyone who chimed in with your insights!
    0Reply
  • Jorge VazquezBusiness Member
    Real Estate Broker · Tampa, FL · Member since 2017 · 1k+ posts · 685 votes
    2y

    Hi Charles,

    I've been investing in Tampa for 20 years, and to be honest, I’ve stayed away from mobile homes for the obvious reasons—like depreciation and lot rent—but if you decide to go that route, make sure to aim for at least double-wide units for better financing options. Investing in mobile homes can be a solid option for cash flow, but it's crucial to consider whether you own the land or just the home—lot rent can add up and impact returns if you don’t own the land, and older homes depreciate quickly. Focus on post-1976 manufactured homes since they’re easier to finance and insure. Also, make sure to research specific mobile home parks, as some have stricter rules or higher rents, which could affect your investment. It’s a good idea to see how other investors are doing in this market and think about long-term maintenance costs to ensure your cash flow remains strong. If you’re set on mobile homes, doing your homework on the parks and properties is key. Feel free to reach out if you want to connect with local investors or explore off-market deals.

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    1Reply
  • Rachel H.
    San Antonio, TX · Member since 2009 · 3k+ posts · 1k+ votes
    2y

    @Charles Blades If you go into mobile homes, I'd be careful and make sure you put the right type of insurance on the homes. Since you're in FL, mobiles are prone to severe weather conditions which has happened time and time again in the past. 

    Best of luck with things! 

    1Reply
  • Sherman Arnowitz
    Investor · New York, NY · Member since 2014 · 42 posts · 14 votes
    2y

    Manufactured homes is a great industry. We've done lots of work in FL, and it's very lucrative. Even with lot rent, the affordability of lot rent plus the home rental makes mobile home rentals a hot commodity. Tampa lot rent can be high, but again, just look at the average SFH rental for the area to make sure the numbers work.

    1Reply
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