Updated over 5 years ago on .
Spec new mobile home.
I've flipped homes and hold both short and long term Rentals and am a licensed realtor. I see a need for affordable housing in a rural area. Habitable stick build homes are all $250k+ in the area. Lot zoned for mobile homes can be purchased for $10k and developed clearing, grading, septic, power and well for $15k. Bringing total lot cost to $25k ready to pull a mobile home onto. New base model double wide runs about $60k deliver and setup. Bringing project cost to $85k. In the area 20 year old mobile homes are selling for $150k+. Financing for consumers to do this process has dried up according to the local mobile home lender. My local partner and I can fund this personally with plenty of room to spare. The consumers can get a FHA loan after 90 days or 0 down USDA loan on new untitled mobile home on land which is the product I intend to deliver. What am I missing what risks do you see?