Manufactured homes in rural areas

[Tony Holloman]

Hello everyone! My name is Tony and I live in Eastern NC and I'm still a newbie but I do own 6 doors currently. There are a lot of great deals in my area on manufactured homes (double wides) on private lots in rural areas which is a big plus in my market. I'm finishing up my first BRRRR and up next is the appraisal and cash out for the next place. We're cancelling the titles on the manufactured homes through the local license plate agency (they handle all MH titles as well as vehicles) then having my real estate attorney attach it to the deeds as real property, has anyone else here done that and if so how did it change the appraisal? I know it's increasing the taxes a good amount but it's the only way I could get good coverage through the insurance companies. I've got a few local investor friends that are selling off their portfolios and one that's selling all his rural places and building a new subdivision. Any insight, advice, etc is welcome! I love learning all I can about this business and networking with you all! I am closing my home improvement business to focus on rehabbing my own BRRRR and I have a lot of experience in working on these types of homes so that part doesn't bother me at all! Thanks in advance, Tony Holloman

[Tony Holloman]

@Patricia Taveras I'll have to check and see. Not sure off top of my head. Are you wanting a business loan or personal loan for it. If you're wanting line of credit business loan call Southern Bank in Rocky Mount NC and talk to Debbie Boyette. If you're wanting a mortgage loan on it call Telco Credit Union in Greenville NC and talk to Angie Harris. Tell either of them I referred you please.