Manufacturered Homes? A good buy?

Question

I’m new to buying real estate and seem to come across many manufactured homes, are these good investments?

Aliciana Fisher · Answer

@Rachel H. That sounds like a great plan, thanks for responding I appreciate your time! I’m definitely going to look into them, being in Florida it sometimes seems like there’s more mobile homes than anything.

Lynnette E. · Answer

When you do compare mobile homes to built in place homes, remember that mobile homes tend to break pretty easily, its easier to put a hole in the wall or pull off a cupboard door.  Often the older ones have paneled walls and they can be harder maintain.

Compare the cost and the rent that they will generate and how easy you will be able to rent to the type of renter you want.

John Teachout · Answer

Mobile homes in most cases don't appreciate or even hold their value. For a rental they can still work. Better if they're on their own land vs in a park.

One thing to be familiar with is how mobiles are treated from a tax standpoint. In some places, a mobile can either be "attached" to the land and thus be real property or not be "attached" and be treated as personal property. (by attached, it doesn't mean anchored to the ground or on a foundation, it's a paperwork/legal thing that has to do with how it's titled.)

I've looked at a number of mobiles (mostly doublewides) but never purchased one. We do have a modular home as a rental but that's quite a different thing.

Aliciana Fisher · Answer

@John Teachout Thanks! I did notice many buyers prefer a home with land so that is a great point! Thanks!

Aliciana Fisher · Answer

@Lynnette E. That’s a great point! Thanks for sharing!

Rachel H. · Answer

@Aliciana Fisher It would depend on how much time you put into it (as in any real estate investment). If it's something that interests you, it's best to study it first and learn your market. From there, see what the supply and demand is in your area. If you decide to pursue mobile home investing, it's best to start out with a small deal first to see if you like it and get experience before moving on to bigger deals. Hope that helps. Best of luck!

Manufacturered Homes? A good buy?

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