All Forum Posts by: Rich Ferradino

The only multifamily manufactured homes I've seen are about 30k higher than that. but that's for a brand new one, and they are modular homes. Are you sure it's manufactured and not modular? Is it including the land it sits on and what is the land value itself worth? how many bed/bath and sqft? Do they have separate water and electric meters? Is it 1500/side or total?

I agree with @Rick Pozos. It's really easy to setup an LLC yourself if you want to save the money. I would recommend buying your fist couple of deals in a trust to have autonomy and have the attorney who sets up the land trust in a separate state. Less likely to get a law suit if they can't find out who owns the land, and even more difficult when it's out of state.

Yes but finding an investor who will buy a note on just a mobile home has been my issue as well. The investors I've met dont want to buy them unless it's on land 

I'm having to owner finance them and I'd rather want to be able to get the cash out and repeat.

@Bill Neves @Jerry Lucker 

I'm having issues getting my mobile homes sold for cash. Most people that call me don't have the cash to pay for the full amount. I'm thinking it might be because they aren't in the right park, or they need a better rehab. Thoughts?

@Wesley Branaman I mostly invest in mobile homes and own afew mobile home parks and haven't come across any groups that discuss the topic. I've even went as far as pitching a pretty good buy and hold mobile home deal at the Alamo REIA but I didn't get any takers.

@Bill Neves Your rehabs are awesome! They look like a brand new model MH, and I can see why you're getting cash for these. My rehabs are a lot less with just paint and flooring, but I might try your method to get top dollar and more cash deals.

Go in with a partner who has the cash and back it with a personal guarantee.

if you can't find one call a local mobile home dealer who has repos on their lot. They'll point you in the right direction.

The appliances aren't custom any refrigerator and stove will fit. It's  the fittings and some construction materials that are. If you go to a country type area with a larger concentration of mobile homes by a larger city you'll find a mobile home parts store. The closest mobile home parts store for me is about 20 minutes outside the San Antonio City Limits.