Hey, guys, I have a quick question: what do you think about manufactured homes (not trailers)? Do you consider this type of housing suitable for investment or not? I know that it is hard to get financed to buy manufactured home that has been moved. Other than that... I really don't like them, or perhaps the idea of a house being not a stick-built. I don't think it is a good idea. Am I right? Am I missing something? Should I reconsider and look into that listing? What's your opinion? Just wondering. Thanks!
Manufactured homes can be a great investment. I currently have 2 doublewides (on a permanent foundation) in my rental portfolio. I would love to have a mobile home park and have been actively been looking for one. As with everything else in the rental business, it's all about the numbers.
Oops, sorry, put the topic in the wrong spot! Sorry, Admin! :mrgreen:
Here in WY, they have a lot of that stuff. I mean a lot. I guess, it depends on the area (RI does not have much, for instance – perhaps, because there is no land for it, HUH!)
Anyway, since prices in WY are out of the roof (comparing to some other states I lived in), I am trying to find something that would be nice for the beginning. I do not want to get 300 000 dollar house right away. Something small, something for first time buyers. That is why I asked. Well, you have yours for rent. What if it is a run down house (in an original location, though) - would it be suitable for fixing and selling? Should I even try? I am going to see two houses on Monday. They are stick-built. But right now, we have some great manufactured houses sitting on a market, and I know why no one wants to buy))) Should I prefer stick-built or look into manufactured houses, as well. I am sorry if it is a dumb question, but I would appreciate your opinion)))) THANKS!
I used to do drywall and set up on mobile homes. They are definitely not made with the quality of materials as that of your conventionally built home, other than the drywall material.
They are homes built for people on a budget and you get what you pay for no matter what it is you buy. Common sense.
The 2x3's used are short sections of 2x3's butted end to end and are flimsy, not sure of what the joint is called.
In the case of a double wide, they are lagged screwed together. Anyone who works with wood knows that wood fasteners loosen with time. Like fixing ceiling cracks along the length?
The drywall cracks with the changing of the seasons.
If you put tape on the cabinets, in case of painting protection, the veneer come up with the tape.
Carpets often loosen and bag in areas. The flooring bulges or sages over time.
Unless on a foundation they'll sink over time creating problems of all sorts.
Do a search on the internet and you'll find all kinds of issues.
So, unless you like maintenance you'll love mobile homes.
Originally posted by If you put tape on the cabinets, in case of painting protection, the veneer come up with the tape.[/quote:
You know it is funny that you bring back this memory, It is the sad truth. 2 years ago this happened to me and I saw ready to burn the place down. Now it is funny to look back at it and laugh.
The manufactured home industry says their homes are of higher quality than stick built, (site built).
Mobile homes have improved over the years. Cheaper to buy, easier to cash flow.
Most newer (post 2000..some late 90's) manufactured homes are no longer made with 2X3's they are 2X4's and have wood or stucco siding. They can be on a ground level foundation, or on pilons or walls....I've seen some renovated with ceramic tile, another has a parquet hardwood floor.Manufactured homes are good for rentals, such as in a park. They are also great for rural locations, got a quick easy set up and you do not need to scour the countryside for workers. I've even sold solar powered manufactured homes.
Everything is hard to finance now and I must admit manufactured homes do have a stigma..even to financiers. There are some great deals out there right now on manufactured homes.
i own a mobile home in harrisville, ohio. they are great rentals. i am selling mine. 17,000. 350.00 a month rent. taxes and insurance only run 205.00 a year. i am liquidating.