I'm looking for a career in manufactured home sales, my nay sayers say stay away, but I say otherwise. I'm excite, I'm a believer, and I would appreciate any feedback on the subject, positive or negative, I'm prepared to receive it.....
Thanks in advance!!!
I don't have much experience with manufactured homes, but I flipped one a couple years ago before I moved on to the attached houses.
I decided to start small with a mobile home flip. I bought an old one on Craigslist, did a minor renovation and sold it in a couple of months with a nice return of about 50% on my investment. It was time-consuming, but overall a fun experience! I didn't continue with mobile homes as the reward wasn't worth the time I spent on it. You need to do a lot at a time and really have a system to make it work.
Here in Massachusetts Mobile Homes are considered a personal property, so all you need is a bill of sale. So no wait on a mortgage or registration! The biggest downside overall was dealing with the park owner who had to approve the buyer before I could sell my house.
My advice - if you think it through and create a system that will work for you, pretty much any business can succeed. Only listen to nay sayers who tried it before and learn from them why they didn't succeed. If they never tried it, they can't say if it works or not!
@Crystal Presnell welcome to BiggerPockets!
Although manufactured home sales are not my niche in real estate investing, I wanted to welcome you to BiggerPockets.
I'm sure that if you take advantage of the wealth of information available at your disposal, you will definitely find the answer you seek as well as other gems and nuggets as it relates to real estate investing.
We are happy to help you in any way we can.
So on that note, Crystal, welcome and I wish you all the best in your real estate investing career!
Updated almost 3 years ago
Hey Crystal, I have repaired and remodeled several manufactured homes. I'm not an expert by no means . I've been in and around manufactured homes most of my life. The remodels have just a few twist different than houses simply because the manufactures do not use standard home measurements for doors, windows, etc. There are several mobile home supply stores within an hour drive. However... Lol... I do my math to check if converting to standard home size parts would save money. It's a little more work to convert so it's really a personal preference of time vs. money. Repair wise, replacing a rotten floor, ceiling, etc is replacing a rotten floor,ceiling etc. Is About the same in homes or manufactured housing. Wiring is sometimes different. One precaution is weight that's added to floors or ceilings only on one side can cause that side to settle if the foundation is weak. This causes all kinds of issues, roof separating where the home joins, one side of the homes floors settles lower than the other side, just to list a couple of things. In our area however, I have studied over the last several years and found that mobile homes that are upgraded to house standards still have a comparable rent to houses in this area. The appreciation on manufactured homes is not as high as homes. So from a newbie's perspective what I have found in this area is that most of the times you can purchase manufactured homes a lot less than a home. Appreciation on manufactured homes is not as high but sometimes you can still find good deals with equity. Repair cost to me same comparable. It's definitely an niche that needs to be studied, but in this area it's probably one of the easiest ways to get started in real estate. I think you could totally do it. I do not share the fear most people have a manufactured homes simply because I've been around them. They are just like anything else. If you take time out to study the things that make you fearful of manufactured homes, pretty soon you will overcome that fear simply because you have the answers. There's so much more but these are just a few highlights of fears that I once had. The unknown is the most fearful thing. Knowledge takes this fear away. Know your numbers , analyze and reanalyze , find your deal and You CAN do it.
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