Updated almost 3 years ago on . Most recent reply
Determine ARV of Mobile-Home Unit
Hello Fellow Investors, I am new to Mobile-home investing. I was wondering.... what is the best way to determine ARV of a mobile home? All responses are greatly appreciated.
Most Popular Reply
#2 Mobile Home Park Investing Contributor
- San Antonio, TX
@Antwan Yarbrough This would depend whether or not the mobile home is classified as real property (attached to land) or personal property (not attached to land).
If the mobile home is classified as real property, then it's just a matter of running comps and comparing the home to similar homes in the area that have sold in the past 6 months. If the home is personal property (not attached to land), then you'll have to do a little bit more digging around.
If the mobile home is located in a mobile home park, you can talk to the park manager to see how much similar homes have sold in that particular park. Also, you can visit other parks nearby to do the same.
Lastly, you can also visit local mobile home dealerships in the area and talk with them. In the past, I've found them to be good sources of information for research and market insight.
Hope that helps!