Mobile Homes good place to start? or waste of time.

Suisun City, CA · Member since 2016 · 3 posts · 2 votes

With my anxiety always getting the best of me, and continuously reading about getting started, wondering if mobile homes are a completely different animal, and if anyone has had success with them. I may be just looking here first because as I get closer to moving forward on anything, this seems more reachable. Thoughts?

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Logan White

Investor · Tucson, AZ · Member since 2016 · 7 posts · 3 votes

10y

It depends, I have 3 rentals and one is a mobile home. I paid next to nothing for the home and small lot. As far as numbers go I am 4K away from it paying for itself and I have only had it 3 years. So in reality it was my best deal. In the end I think if the numbers are amazing why not, if the numbers are close to a normal SFR then no way. A mobile home is a depreciating asset in the end Just like a cab, but cabs still make the cab company money. (Pre uber of course)

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Ryan Craig
Realtor · Nashville, TN · Member since 2014 · 148 posts · 46 votes
10y
@Sean Kasperek Depends on what you are wanting to do. I know a guy who makes good money flipping mobile homes and I know others who buy, hold and rent them. They are fairly inexpensive to purchase and fix up so it isn't a bad way to start and get your feet wet.
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Logan White
Investor · Tucson, AZ · Member since 2016 · 7 posts · 3 votes
10y
It depends, I have 3 rentals and one is a mobile home. I paid next to nothing for the home and small lot. As far as numbers go I am 4K away from it paying for itself and I have only had it 3 years. So in reality it was my best deal. In the end I think if the numbers are amazing why not, if the numbers are close to a normal SFR then no way. A mobile home is a depreciating asset in the end Just like a cab, but cabs still make the cab company money. (Pre uber of course)
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Bill Regan
Investor · Baltimore, MD · Member since 2015 · 160 posts · 76 votes
10y
Check out mobilehomeinvesting.net, @John Fedro's website. Tons of information there and John has a podcast and even a mentoring program if you are interested. He is one of the go to sources for investing in mobile homes. Good luck!
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Rachel H.
San Antonio, TX · Member since 2009 · 3k+ posts · 1k+ votes
10y
There's not one best investing asset out there: only the one that works for you. Many investors will tell you what they think is best though that is based on experience. We all have different paths in life and different ways of doing things.
With mobile homes, you can do a small deal for a smaller amount of money than your typical single-family home. If you like it, then you can continue. If not, then you can do something else without too much risk.
Hope that helps!
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Pete Garcia
Investor · Hurst, TX · Member since 2016 · 12 posts · 6 votes
10y
If it makes sense as an investment, then go for it. There are lots of people making a killing in manufactured homes and parks. I have an Aunt that manages a park and has had 3 of them given to her, she fixed them up and with a few thousand and put renters in making a nice cash flow. So like I said, if it makes sense, do it.
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Joel OwensBusiness Member
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Real Estate Broker · Canton, GA · Member since 2010 · 15k+ posts · 11k+ votes
10y
If it works for you go for it. Everyone likes different things. I see a job and headache. You see opportunity.
My mom's friend is in her late 70's and has been mobile home investing for over 40 years. It is a lot of work and the tenants can be a pain. Key is to know how your county or city views mobile homes. Some investors only want to own the land and have the owners of the homes pay them monthly. The homeowners tend to stay much longer due to the expense of moving the home. A renter can be more transient and move out in an instant and not pay rent.
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Brent Howells
Cape Canaveral, FL · Member since 2016 · 9 posts · 0 votes
10y
Mobile homes can be a great way to start building a real estate portfolio. From my experience it is a great space for someone who is handy, these type of assets are easy to rehab or maintain during a holding period! Furthermore, if you can buy the land with the mobile or manufactured home then you will further add value to your investment.
The biggest downside is the depreciation but if you have a large spread of real estate investments; this can possibly offset some line items and become a upside to your overall portfolio. If you are solely involved in these types of assets, then make sure to properly manage your portfolio and liquidate under performing or problematic assets and replace them with more valuable long term investment opportunities.
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