Buying a mobile home at 18

3 Replies

I'm currently 18 years and am currently trying to get into real estate. I have enough money saved up for a down payment and getting Co signed on it won't be a problem. I'm just wondering if this would be a good investment to start out on and am wondering what I should stay away from and what is a good deal. Any feedback would be greatly appreciated, thank you.

Hey @Taylor Thompson , welcome to the BP community!

Good news: You have TONS of time to build your real estate empire. You are getting started at least a decade or two before most people in this business so you have a huge advantage here. 

Bad news: You probably aren't going to make any money on individual mobile homes. Is your plan to buy a new home, finance it and rent it out? If so, you'll be lucky to cash flow and after your tenants move out the home will be wrecked. After turnover repairs, you will be back to zero cash flow or even negative. On top of this, you can't even hope to make some money via appreciation since MHs depreciate like cars. So you'll essentially waste your time dumping money into a depreciating asset that doesn't cash flow.

You're better off getting into an affordable house hack somewhere to start. Time is most definitely on your side though so just keep grinding and saving money until you can afford a down payment on a real asset. And keep educating yourself. That is probably the most important thing you can be doing right now. If you simply study real estate for the next two years you will be more informed than 99% of new investors and you will still be younger than most too. 

And enjoy the journey! If you have questions along the way or ever just want to chat, please feel free to message me anytime!

@Taylor Thompson Great to hear about your interest in mobile homes! Despite what you hear from others, investing in mobile homes can be done. And profitable. I make a living doing it full time and have been for over a decade.

Like any other real estate asset class, you have to really take the time to study it and understand it. Unfortunately, many who pursue it or get into mobile homes accidentally just don't take the time to get to know the business. They rush into it, make mistakes, and don't learn from them. Consequently, the leave and tell others it doesen't work. Maybe for them. But not for everyone

If you're dedicated to learning, can stay focused, have the patience and are willing to make mistakes (lots of them!) and learn from them, investing in mobile homes can be a great entry point for any new real estate investor. 

Hope that helps! 

I think any if the numbers make sense, it's a fine deal to start your investment career in. But really, I think what's even more important is how young you're starting out. Keep it up. 

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