All Forum Posts by: Antwan Yarbrough

Hi @Antwan Yarbrough! You got some great advice from @Rachel H.above. I recommend you do that. If you have an opportunity to acquire a mobile home right now you could be in an excellent position. There is a pretty good supply and demand imbalance and if you fix it up to look nice you might be able to get a premium. Depending on what you acquired it for. 

This may sound funny but there's an old real estate sales method out there called "The 5 Day Sale." I used it to sell my home once. It basically consists of holding an auction and selling the property to the highest bidder. You may not want to go through that process but once you get it fixed up and get professional photos, you could potentially hold a mini auction for it. Just tell people to submit their bids and you will keep them informed on the highest bid and go from there. Just a thought. 

As @Rachel H. mentioned above, I would also call mobile home parks around the area. Many of them have lists of potential tenant-buyers and they might provide a ready buyer for you. Good luck and happy investing! 

@Antwan Yarbrough This would depend whether or not the mobile home is classified as real property (attached to land) or personal property (not attached to land). 

If the mobile home is classified as real property, then it's just a matter of running comps and comparing the home to similar homes in the area that have sold in the past 6 months. If the home is personal property (not attached to land), then you'll have to do a little bit more digging around. 

If the mobile home is located in a mobile home park, you can talk to the park manager to see how much similar homes have sold in that particular park. Also, you can visit other parks nearby to do the same. 

Lastly, you can also visit local mobile home dealerships in the area and talk with them. In the past, I've found them to be good sources of information for research and market insight.

Hope that helps!