Updated about 6 years ago on . Most recent reply
Mobile Home Investing
Hello,
Beginner investor in real estate, I am reading the book "How to Invest in Real Estate" by the two guys who run this. I saw a couple of things that interested me, simply because of my money situation. I am a college student who wants to invest in real estate but want to start out small. Is mobile homes the best way to go? Or can I do vacant land? Anyways - what is the best option to do real estate investing for mobile homes.
Thanks for any help,
Drake
Most Popular Reply
Welcome to the journey, @Drake Pristash! Mobile homes can be a good entry point, but far from the only entry point. Depending on your financial situation you may find the best play possible to be house-hacking by buying as many units as possible (up to a 4-plex) and using an FHA 3.5% down loan to purchase it.
If you are specifically interested in getting started in mobile homes, I should be closing on a small park soon and will be looking to offload all of the 25 existing mobile homes on the lot and "Seller finance" these to the tenants. A situation like this could be a great entry-point, as you might be able to come in and buy a unit or two and carry the note on it with a 2-year payback period. You'd get your $2k back with interest and be able to rinse-and-repeat.
I'm sure @Brandon Turner and his Mobile Mob will have some brilliant hactics to get you started here!
Good luck on the journey!