How much are you paying for MHs these days?

Question

For those of you who are actively buying mobile homes to rent or resell, what do you find is a reasonable price to pay to get a decent home you can rent out or resell without doing extensive rehabs?

Marc Faulkner · Answer

Answer to the original question:  As little as possible!

Marc Faulkner · Answer

Sorry for sounding so salty.  I just thought it was kind of a crazy question since the logical answer does depend on the year, make, size, # of beds and baths, appliances included, condition/work needed, location, ease of moving, vinyl/shingle or metal/metal.  With this information you should get much better answers.

Leslie A. · Answer

Well, Marc,

I can do other things, too, can't I?  Why so snarky?

Marc Faulkner · Answer

The question is kinda crazy for a mobile home note buyer actually.  You should know this depends on the year, make, size, appliances included, ease of move, location, condition, etc.

Avery D. · Answer

Anyone know what a used mobile home goes for in Tampa Fl?

Leslie A. · Answer

Great cash flow, Joshua!

Joshua D. · Answer

I just bought one in my area for $5000 and it rents for $775 a month. It now sits on property I already own so no lot rent.  But this is Montana.

Eric Robertson · Answer

I have located a "deal" with 13 mobiles in a park here in FL. The price puts the mobiles @ $7500ea. with $299 lot rent on each. The Owner would also sell the homes and land or just the homes with first right of refusal on the land. I do not have enough experience with mobiles to be comfortable doing the deal alone but am looking for a partner with experience in mobiles. They appear to be in decent condition and have been maintained and owner would even consider financing the right buyer. Please contact me if you are interested and have the experience to close this deal.

Leslie A. · Answer

@Mark Gruetzmacher

Yeah, we have it pretty good in Texas in a lot of ways.  We do have really high property taxes, though.

Mark Gruetzmacher · Answer

@Leslie  A. Just my 2 cents.

Around my parts of the woods mobile homes seems to be high I think.  I don't buy any but know a guy that has bought maybe 15 over the last few years.  Around here $5-10K doesn't by much.  If your lucky it would be in the 80's.  Most of what he buys is the lower 1970's and most of it is just junk(another reason I don't buy).  What he buys is usually 1K-3K dollars but then he pretty much goes through and has to fix almost everything and makes it halfway decent and then sells for 8-12K for this early 70's stuff.  Anything in the lower 80's is over $10K easy and that is not fixed up.  90's are even worse, 20-25K.

I do have to say though I have looked at prices in TX just for fun since my sister lives about 1.5hrs east of Dallas and the prices are night and day difference down there compared to here.  I have seen some late 80's early 90's double wide for $15K and something like that around me is unheard of.  I would try to stay at least in the 80's and up.  More food for thought.

How much are you paying for MHs these days?

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