Anyone BRRRRing mobile homes?

1 Reply

I'm not sure if this is the right area for this but I've been doing the math on mobile homes in retirement communities and it's blowing my mind. Is there good reasons not to do this?

I have found a bunch of mobile homes ranging from 10K-30K that do need some updating but I can't imagine more than 10-15K!

So let's take the worst scenario of 15K on top of 30K purchase on a 2bd 2ba that market rents are $750-1000/mo. Let's call it $800.

$800 * 12 = $9600

$9600 * .6 (Vacancies, repairs, and etc) = $5760

$5760 / $45000 = 12.8% ROI

Am I doing something wrong here?

@Garett Collins

Howdy.

Depends on what you want to do. 

Lots of normal investors will tell you to steer clear of mobile homes. We've done great with them.

Many communities will NOT allow renting. Residents in most communities must be residents. But they can buy with financing. You can get good cash flow, as you said, if you sell on payments.

Many retirees have cash to buy, as we've experienced.

So, good luck and happy hunting!

Yell if you have other questions.

Updated 26 days ago

They'll rent the space but must own or be buying the home.

Updated 26 days ago

Residents = not renting.

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