Buying and renting out a mobile home

5 Replies

I'm in the Chicago suburbs, and I have a Self-Directed IRA that I"m looking to put to work. I'm considering using it to buy a mobile home in order to rent out. I'm looking for some pointers. I'm not seeing any mobile homes listed for rent on hotpads.com, apartment.com, or on realtor.com. So, it makes me wonder where people market for that, or are there just so few they don't. What are some pointers from people that have done this. Especially with a Self-Directed IRA.

@Peter Halliday   Most Mobile Home Parks in my Area do NOT allow rentals.    I am not sure about your area, but you should look if you are able to in your area.

@Peter Halliday It's probably better to drive your local area and look for mobile home parks. See if there are homes for rent and for sale there. Talk to the managers and/or owners. Usually, they will know what's on the market. A lot of opportunities are not advertised. Mobile home dealerships are also a great avenue and source of information. Good luck! 

Peter, buying mobile home in your SD IRA would not be much different than buying it personally. All income from the investment must be going back into the IRA and all expenses related to the investment must be paid from the IRA. You are not allowed to do any work on the property or provide any services to your IRA.

Never personally invested in mobile homes don't know if it's a good investment. There is no appreciation on this asset just whatever cashflow you get from it. If you don't have any experience with this you may want to consider something more passive, more rewarding and probably less risky, I'm talking about private lending. Use your IRA as a bank.

Here in AZ mobile homes are on Zillow

Originally posted by @Hunter Fitch :

Here in AZ mobile homes are on Zillow

Same here in Texas.....actually listed in the local MLS....been considering this as an avenue for rental income as I have friends in the mobile home sales business. Thinking that I can get them to keep their ear to the ground to let me know when someone may be in a foreclosure situation.

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