All Forum Posts by: Mac T.

Hi @Teri Feeney Styers, it is, good spot! Thank you for the insight! 

Hello BP Community! This is my first time posting here... thank you for your replies and insights. I have searched the forums but have not found a thread that matches my situation. I have the opportunity to purchase an off-market doublewide in an easy-to-rent area (SW Colorado where housing is tight), the land is included in the deal, the doublewide sits on a foundation and has been deeded together with the land. The math is there, I can purchase the property and complete the remodel for $120k all in (Seller financed during the repair and seasoning period). ARV for similar properties in this area (manufactured homes) is about $200k, so I plan to use the BRRRR method to recover some if not all of the initial investment and then rent it out long-term.

My question is this: I am not familiar with the bank's perspective on manufactured housing, or on the long-term issues that may come from owning a manufactured house. What do I need to know before jumping on this apparent deal and will I even be able to refinance the property given the manufactured construction? Thank you for your responses!