All Forum Posts by: Diana Wasneuski

Shahdan, We are manufactured home Investors & brokers in DFW area if you would like to connect contact us at mobilehomeoffers.com we'd be happy to speak with you.

Try going to your state manufactured housing division or association websites 

http://www.hsmv.state.fl.us/mobilehome/

http://www.fmha.org/

contact one of them they should be able to let you know what to do

If the land is only worth 5-10k which in my opinion needs to be tightened up, is it worth 5k or 10k?? You might not think that is a big spread but when you are at such low price points it can be a deal killer. Also, the mobile home being 30 yrs old & only a 2 bd, 1 bth there really is NO value in it. You would have to make sure of the condition of the property & what repairs are needed. Because when that tenant moves out you will most likely need to put some money into it to make it appealing to other renters if you plan on continuing to rent it out. I would probably look at the option of what that land would go for if you replaced the home with a newer one? Or make sure you buy the property at a discount so you can do little or nothing to it & be able to turn around & sell for double what you paid?? We always evaluate with I need to buy at a discount & then how can we add value to it & make a profit. That is just our experience & buying mobile homes is all we do all day everyday. We buy in parks & on land. We never rent our properties we find buyers with a substantial down payment & hold the notes. We like our buyers to have skin in the game, if they have more invested the default rate tends to be less. Now that being said I don't know your area & what rents are or property value is. Just food for thought. 

yes, you do need to register it with the manufactured housing division you can click on it I posted the link. Call them & see what they will require. I believe there is a way to get it done without the previous owners that are not able to be reached. You will need to just do more paperwork. If you ever want to sell the mobile home you should register it. If it is attached to land then it is considered real property if not attached then considered personal property. Good luck

That is correct & great advise Derrick gave you! 

Good Job, congrats! 

And Yes, John Fedro is awesome! 

Terence don't forget to go to this link http://goo.gl/iugzHB & join our meetup group. We just scheduled our next meeting for June 8th. Hope to see you there! 

Hi Terrence, 

We are in Dallas as well in Allen. We have a meetup group called "Outside the Box" Here is the link http://goo.gl/iugzHB if you would like to check us out & join us for our next meeting. We meet once a month in Allen. If you are not far from us we would love for you to join us! 

Hope to meet you soon! 

Diana Wasneuski

Yes, we do it all the time that is what we specialize in. We mostly fix & flip by way of owner finance when in mobile home parks. We buy them at a discount & fix them up to make more value & either we owner finance or the end buyer pays cash or gets financing thru Manufacture housing lenders. Depending on your market depends on what the majority type of cliental you will be dealing with? You need to learn how to evaluate these properties so you can set yourself up for a profitable exit strategy. 

 Michael, 

You don't need to get your MLO license. All you would need to do is make sure you use a licensed loan originator to write up your notes so you stay compliant. We found a few companies here in Texas & their fees range from $850-950 per transaction. Which you could have the buyer pay upfront or put the costs into the loan on the backend just like banks do! Before you go get your license in anything you should make sure you like investing in the mobile home industry. You can sell one in a 12 mth. period without a license in the state of Texas. However, you can buy as many as you would like & rent them out if you want to have rentals & you can have a servicing company manage your properties etc. Many different strategies just depends what you are comfortable in doing. Hope this help!