does anyone have experience investing in buy and hold rental mobile homes in Florida?
It seems like a low cost way to generate significant income, pros,and cons?
I've done this in Texas. Cash flow is great. Financing them is more challenging. Selling them, too, for the same reason. I like to buy them on acreage in the way of growth. You get land appreciation that way.
I'd be buying single units--what makes a unit stand out in the multitude of availables?
Would you spend the money for newer units and place them in low lot rent parks?
Or would you buy fixers?
I like newer model doublewides on their own land. A fixer is OK, but make sure you count the whole cost. For example, does it need new septic?
I wouldn't buy them in parks unless I owned the park.
Do you like the home/land packages dealers sell or do you look foe your own land?
How much does it run to prep a site if the unit isn't already on it?
In Florida a MH will have its own land only if it's out of town a bit. What do you think about that?
The land/home combos the dealers sell are usually not a good deal. I've bought most of mine at HUD auctions, from MLS, and REOs.
All of mine have come with land, usually 1 to 4 acres.
I wouldn't prepare the site and then move one on, just too much expense. You'll be looking at water meter, power, sewer tap or septic, and driveway. You can get a better buy if you get something existing that is distressed.
All of mine are out of town. I want them to be in a good area, have good schools, and in the way of growth.
Very helpful, thank you.
Create Lasting Wealth Through Real Estate
Join the millions of people achieving financial freedom through the power of real estate investing