Making Money With Mobile Homes

A business niche nowadays in purchasing your own land and mobile and rent them out. Quick and easy and doesn’t require much of money and time. Sound good? Well, it is true and good! So let’s take a look how such business runs.

Buy and Rent. One can purchase a piece of land and a mobile or manufactured home at a lowest price as possible. These can be rented out to make a profit. Choose the home with the most square footage at a discounted price and keep at a discounted price and keep the land small to minimize the acquisition cost. As always, consider the location of the land parcel which is ideally 10-20 minutes from the beach

Real property vs Personal Property. The mobile/manufactured home on the plot of land will be considered real property if the owner registers with the county as one whole property. The title for the mobile home will be given up to the state and annual property tax will be charged. The mobile/manufactured home will be considered personal property if the owner registers the home separately from the land. The land and the home will be taxed separately in this case, yet, the owner can upgrade the home to a new one after a period of time or sell the mobile and keep the land for rental.

Resell after acquisition. One can buy the land and the mobile home and resell them for a good price. This can help to make a profit, yet, all prices have to be verified and be up with the market prices.

More homes on the land. Adding more homes on the land might be allowed in some areas. This is beneficial when renting the homes out to Airbnb or regular rental. Consult with the county’s building code enforcement department and adding more homes to the land can be another money-making business!

Selling mobile/manufactured homes. When selling homes that are attached to the land are wholesaling and that could be treated as selling and buying single-family homes. It is then simple enough to handle the sale transaction as one does not even have to own such homes.

Get creative. Mobile/manufactured homes and land do not have to be only for residential. They can be rented out for storage, business, agriculture, or commercial. The land can even be divided out and sold for a profit. Always check with city’s land-use department to ensure that all activities are legitimate and approved.

Topics: real estate, mobile homes, manufactured homes, investment

Work-cited: https://www.biggerpockets.com/blog/make-money-mobile-homes-private-land