How to start investing in mobile homes?

[Chad K.]

After listening to podcast 75 of mobile homes by John Fargo I wanted to start investing in mobile homes in an close to the Charlotte, North Carolina area. I currently wholesale traditional single family homes but have no background in Mobile homes but I would love to talk to any active mobile home investor close to the Charlotte, North Carolina area.

[Curt Smith]

We buy double wides on their own land from auction sites and REO from banks found via zillow "manufactured" daily emails. We pay less than $25k for a 1996 or newer doublewide on .5 up to 2.5 acres with moderate rehab ranging from vacuming up to full rehab plus HVAC. We've only once replaced a hall bath, and only once replace a kitchen. These homes are usually fixable for less than $10k over purchase price. We NEVER rent them. We only rent to own, and seller finance Dodd Frank compliant. When you move up scale to "aspirational" future owners you'll be in a whole different business model and level of "problems". It's counter intuitive: the lower your rent, the higher the problems. Seems simple enough, fix slightly nicer and charge a HIGHER rent. Wait a month or two being vacant if need be. You'll be happier in the long run.

We are completing the 10th doublewide added to inventory this year hear in GA.  Best of luck.