Mobile Home valuation

3 Replies

A neighbor is selling a used doublewide mobile home.  I thought for the right price it would be a good investment.  I have a vacant lot that I could set it up on and rent it out.  It does need quite a bit of work to make it acceptable to rent.  How do you place a value on a used doublewide mobile home?

Find comps by calling around local mobile home sales places. There is a starting number.

Then add the maintenance, then the moving and setup. See if the deal still makes sense. 

 If your lot isn’t setup for a mobile home now, it may be expensive and have permitting issues.

I strive for $400-500 minimum cash flow on my mobile home deals. That is after all expenses.  There are just to many variables working against you to do it for less. 

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If you're interested in investing in mobile homes, you would probably be better off finding one already set up on a property. I had a mobile moved once and I paid more for the move than I did for the mobile. Also, if you have to have a well and septic, don't forget to budget for that as it could run another $10k or more.