Engineer · Leander, TX · Member since 2015 · 38 posts · 19 votes
10y
Watching this and interested in one as well. These are creating quite a stir right now and if you have the land I can't imagine a quicker ROI... Maybe??
Brooklyn, NY · Member since 2015 · 28 posts · 0 votes
10y
As small as this house is if I buy it that will be a start for me and my investing can you please let me know where this house Is and the cost of it please in box me thank you
Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
10y
Dodd-Frank may be applicable selling to a consumer, if it's portable it can fall under the mobile home guidelines.
And yes, if its a residence TREC applies.
Wholesale this? No, especially by assigning a sales contract with an owner occupied dwelling!
Need to learn how to take title, even to mobile homes or land, 100% seller financing to an investor can be much easier when the note has a "call" provision, you sell, the note is paid off in closing. While the old double closing thing is pretty much dead under ALTA, you can do a back to back with proper planning if the property is sold to you with seller financing.
This gets you past the issues of intent to purchase and the ability to purchase for a valid contract, you're taking title, there is no wholesaling by flipping contracts, still find your buyers first!
And, as to tiny homes, I would approach the valuation from the replacement approach, cost and depreciation because there is not a significant market to use the market or income approach. This also kills financing alternatives, so seller financing might be the only game in town. A bank might look at it as an RV as well, but without land, it's a chattel sale. :)