Rental Property Investor · San Diego, CA · Member since 2016 · 11 posts · 2 votes
I'm looking at a manufactured housing deal in a normal neighborhood in San Diego (not a mobile home park) and wondering what type of value discount is appropriate compared to a property with conventional construction. My understanding is that conventional 30-year, fixed rate mortgage financing is not available for manufactured homes, so the pool of potential future buyers is limited. If any such financing is available, I'd like to know what lenders provide it. Thanks for any input!
I did some investigation on this in Texas and found that there are significant differences between a manufactured house and a mobile home. Some mobile home dealers sell both. Roof pitch, construction materials, foundation, etc., are all different. In DFW, differences mean that a manufactured house starts competing with site-built in price and you still have to deal with building codes that try to prevent their use.
Manufactured homes do not really compare to stick built
the value as always in San Diego will be in the land and location,
You should find out if the MFH has always been at its current location vs. moved, what kind of foundation it has, year, skirting type, and is it sewer or septic.
If it is in one of those lake communities or 55 and older check the CCR's.
Financing can be very difficult on MFH that is older even if it has a permanant foundation
Before you even start you need to check that the zoning will allow you to place a mobile home on the land. Typically you cannot intermix like your title suggests.
I did some investigation on this in Texas and found that there are significant differences between a manufactured house and a mobile home. Some mobile home dealers sell both. Roof pitch, construction materials, foundation, etc., are all different. In DFW, differences mean that a manufactured house starts competing with site-built in price and you still have to deal with building codes that try to prevent their use.