Mobile homes?

7 Replies

Can you wholesale a mobile home the same as a regular property?

You can.  

Most people choose to buy and hold them.  From what I hear, they make great cash flow.  

sure why not. as gerald said, many people use em for great investing purposes

@Danny Benavides  You most certainly can wholesale mobile homes! I've done a ton of em.

And the greatest thing of all... If you are wholesaling a mobile home on leased land (or in a park) you don't have to close through an attorney, which means, we get paid instantly.

And yes @Gerald Harris  they make incredible cash flow properties!

If you wholesale mobile homes don't you need some sort of license to do so?  Not even sure if you can legally do that here.  I know if you buy them here and don't transfer the title to your own name and pay the taxes due you can get in pretty big trouble.  If your caught it is some sort of felony or at the very least a misdemeanor.  But if there is an option for a wholesale license then maybe you wouldn't have to worry about it.  Here we have 30 days to transfer title and the seller of the mobile home should make sure the title is filled out with the buyers name and also the attached form to notify the state of the seller and price.  Again that is just here is South Dakota.  Something to check into.  

They are also good cash flows here if your buying right.

Danny You can, however titling Mobile Homes in Texas is not always as simple as filing a deed at the county clerks office. Also, titles for mobile homes are easily clouded in Texas, and tax liens could be placed on a home even if the home is current on taxes under the half payment option of property tax code. 

The TDHCA does require title transfers in Texas to be filed within 90 days of sale. This may cause you time constraints to get taxes and liens cleared quickly, which can be costly. The converse is true as well, you could make large profits in short periods of time, especially buying older mobile homes with clean records. Check liens through the state at :

http://mhweb.tdhca.state.tx.us/mhweb/title_view.js...

Then you have relocation issues. If you buy an abandoned mobile home you most likely need to move it. Cost to move mobile homes can be and are usually costly. I have one company that use, they start at $2500 and go up depending on size and weight of the home, and distance they move the home. If you are smart, find a park that is desperately trying to unload abandoned homes, it will save you money. Hopefully, they will even rent you the lot, and you can flip a home without moving it.

TDHCA also requires all taxes be paid through the current calendar year. This can cause you an additional expense since the tax offices in Texas work in arrears. So unless you have transactions from October-December, you will be prepaying property taxes (additional cost).

The abandonment process affects tax liens and amounts due under the Texas Occupations code. This is a benefit to you, if you find the right deals. Check with mobile home parks if they have homes they need to sale that are abandoned.

So to sum up the basics, due diligence is your friend. Small issues can cause huge losses, good preparations secure your profits.

The biggest difference is that you can wholesale a mobile home deal in about a half hour!  We spend more time buying then we have to spend selling.  The due diligence takes a lot longer on real property than it does on a mobile home so you can do more deals in less time, in my opinion.  

I'm relatively new to the BP platform but I've already been asked a lot of questions about the different aspects of the MH industry so I thought I'd share a 4 part series of posts I wrote on a real estate blog I contribute to. Hope this helps those who have had issues like the ones described in this post.

http://www.biggerpockets.com/blogs/6305/blog_posts/42988-the-difference-rv-park-model-hud-manufactured-home-part-1

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