What are your thoughts on fix and flip MH in Arizona?

[Matt Semm]

Hi Everyone,

I have worked on flips in Montana and in BC Canada, I am wondering what everyone's thoughts are on manufactured homes fix and flips in the Arizona market?

Is there money to be made with tight controls on buy and expenses or is the market down too much currently?

I've been studying the market and it looks like there is a glut of mh on the market with a lot of price reductions.

Thanks for your thoughts!

[Jeffrey Daniels]

Hello, @Matt Semm

I've spoken to a couple of people who flip MHs in Arizona, and while a lot depends on the community and location, as with most investments, success ultimately depends on the acquisition cost.

In 2021, I helped sell a 1991 2 bed / 2 bath, 1144/ft² MH that needed everything, in a very nice Phoenix age-restricted community, for $18,500. Buyer did windows, roof, hvac, the works. Sold it in 2023 for $175,000. It is on the market now asking $179,000. Land lease is $1000/month, and they require 3x verified income and 750+ credit score - so even after all the work and investment, you're needing a specific buyer.