Marketing for Mobile Homes Verses Marketing for Houses
I have most of my years in REI in single family block homes, but last year I switched most of my focus to mobile homes, preferably with land. I've been doing basically the same type of marketing, but wanted to pose the question to others if you do a different type of marketing for a niche market such as mobile homes... Looking forward to what everyone has to say.
I have done a few mobile homes. I have always bought them at tax sales for the price of the land. Usually rent them out until after the redemption period is over then owner finance them. In Texas, I have not been able to get the mobile homes financed, that is the reason for the owner financing. Usually get 5 to 10 % down, and finance the balance at 10% for 15 years.
It can tie up your cash for a while but it is a great return.
I'm with @Ron Flatt. We've owner financed a few mobile homes and now that's all we do with single family residences now. We love owner financing and that's all we do now. To prevent the cash tie up that Ron mentioned we usually leverage the note with a bank or simply sell the note to a private investor.
If you're looking to stay in the mobile home arena search out Brandon Pfannenstiel of Vacancy Home Solutions in AZ. Met him at a networking event in San Antonio and he seemed like a very solid and knowledgeable guy when it came to mobile home investing.
