All Forum Posts by: Rachel H.

@Margarita Bozhenkova If you need to get out of it because of financial issues and the partnership has gone sour, selling is probably the best course of action. 

Before putting it on the market, you'd have to have a talk with your partner. Make sure you're all on the same page. You'd also have to negotiate what you'll both get out of the sale beforehand. 

Regarding the home value, it's best to do what you can to get it fixed up. If you're looking to sell as-as and a quick sale, just be prepared to get less than it's retail value. 

It's not a bad thing. I've been in bad situations with mobile homes as well, so I completely understand. It's part of the business and definitely a learning experience. 

Hope that helps! 

@Christina Ham You may want to check with surrounding mobile home parks, dealerships and mobile home supply stores. They may have a few referrals for you. Hope that helps! 

@Dino Rosetti Very nice! I took a look at the pics. Best of luck with the deal! 

@Jaime Felber If you're in a good location with a lot of demand and not a lot of supply, it's easier than if you're not in an area with so much demand. Then, it takes a lot of marketing and convincing on your end. 

Also, if the lots are smaller it will be challenging to fill them with older, used homes as they are not easy to find. Though, some owners have done this by filling the spaces with RVs if there's enough demand in the area. 

You may want to try a couple of different approaches to see what works. Hope that helps! 

@Robert E Bogino I've never done it myself. Though, I've heard of other investors do deals as sub-to in this niche. 

You'd have to make sure the numbers work for you. Also, you're able to keep the loan current if you're planning to keep the seller's name on the mortgage until it's paid off. Just be aware of the due-on-sale clause which is a risk when pursuing these types of deals. 

Hope that helps! 

@Jaime Felber You may want to check what's listed on craigslist as well. I see a lot of smaller landowners and mobile home parks list their lots available there. Hope that helps! 

@Michael H. You may want to wait until the market cools off a bit. Those I know who've been successful in the Houston market usually are doing off-market deals. 

I left the single-family home business as a real estate investor back in 2007 when I started investing in mobile homes. I'm still in the niche as I think there will always be a market for affordable housing. I really enjoy it!

Like any niche in real estate investing, it has its ups and downs. But overall, it's been profitable. 

I think the insurance rates in Houston may be a bit of a challenge now as a buy and hold investor. I can understand your frustration. 

For me, I've shifted to wholesaling mobile homes which I really enjoy. Personally, I haven't encountered challenges with insurance companies yet as a real estate investor. 

Best of luck with things! 

@Joshua G Steed I have yet to buy a mobile home at auction but have heard about them. You may want to get some ideas by attending your local real estate investment club to see if anyone has ever done this before and their thoughts. 

Many times, you may get some referrals there if you're looking to expand your network if you're looking for lending opportunities. Hope that helps! 

@John Boutros The only think that comes to mind is private lenders or trying to find small, local banks and credit unions who are willing to lend. You may want to also circulate this opportunity in your local real estate investment group. Maybe you'll get some referrals or other investors interested. 

Hope that helps! 

@Nic Bray You may want to connect with real estate agents locally who work with tiny homes. If there are people buying them, it's best to see how they're buying them. 

Since it's a new area, it's something that I see more and more. Also, some mobile home parks and rv parks have some tiny homes in them. You may want to talk to some parks owners locally to see how they're financing their purchases. 

Hope that helps!