All Forum Posts by: Rachel H.

@Liz Lynn Yes, I agree with @Henry Clark. Those trailers seem pretty old and may not help with the valuation for the property. 

The value is in the land especially since there are already utilities set up. If you can find anything comparable that has sold in the area as well as if there's anything similar on the market, that may be a good start. 

Regarding the trailers, you can try to find out what the going rates are for those types of rentals in the area. You can always check with park managers and owners in surrounding mobile home parks as well as mobile home dealerships. In the past, these sources have been pretty reliable when I'm looking to get a second opinion for market insight and analysis as well as a source of referrals. 

Hope that helps! 

@Logan M. Great advice and stories, thanks for sharing! 

@Andrew Borner Regarding your question, no I would not buy expensive investor toolkits from gurus if you're just starting to learn about land investing. It's probably best to start by reading up on some books on the subject as well as networking with others here who have done these types of deals already. 

If you're interested, feel free to DM and I can send you some recommended resources. 

Hope that helps! 

@Karina Rojo There are a couple of routes you can go depending on what your goals are. 

If you're planning to buy and hold, you may want to bring in a partner or private lender in on the deal. Though, if the home needs a lot of work and you don't have the rehabbing experience - it may cost a lot of time and money. 

Another option is to look into selling the mobile home (or giving it away depending on how much work is needed) and looking for another used mobile home in better condition to move on the land. This will save you time when it comes to fixing up the home. Though, it will require you to spend money on the move and the hook ups (i.e. electrical, water, gas, etc). 

If the deal seems like there's just too much work involved, you could also end up wholesaling the deal to another investor. Either you sell the land and the mobile home to someone else. Or, you just sell the mobile home and keep the land. Both of these scenarios would avoid fixing up the mobile home all together. 

If you have any other questions, feel free to DM. Hope that helps! 

@Kalin Edwards You may want to check with your local real estate investment club. There may be some people there able to help with the funding or know others for referral sources. 

Another options is to seek out private lenders and/or partners. In many cases, investors I've seen who have funded deals are those who know the niche especially when it comes to manufactured homes. 

Hope that helps! 

@Rehaan Khan Welcome to BP, great to hear your interest in mobile homes! 

Personally, I've been in the mobile home investing niche since 2007. As in any other area of real estate, it's had ups and downs. Overall, it's been pretty profitable. 

I started out buying and holding mobile homes for cash flow when I first started out. Now, I've been wholesaling mobile homes for cash. It's been a fun journey so far!

If you have any mobile home investing related questions, feel free to DM. Hope that helps! 

@Gustavo Rodea You may want to check with your local real estate investment club if you're looking for private lenders to work with. Many times, there are investors right in your area or the area where the properties are that prefer to invest locally. 

It may be worth a try to see if you can connect with some local private lenders at your real estate investment club. There may be someone there interested or know someone interested in helping to fund your deals locally. 

Hope that helps! 

@Mark Howard I think you can make money in any niche as a real estate investor. The key is getting the education, studying it and eventually learning through experience. 

Sticking with a particular niche is the hardest part. I've known investors to try investing in mobile homes which have not worked out for them. For me personally, I've been in the niche since 2007. Like anything, its had its ups and downs. 

When people are looking for a niche to start out with, I tell them it's best to pick something and stick with it for a good 6 months to 1 year before switching to something else. 

The best mentors I've had follow this rule which has made them successful real estate investors. 

Just my thoughts on the subject! 

@Liz Lynn For the trailer portion, those are pretty old homes. If the land is separate from the mobile homes, you may be able to see what the county assesses the homes if personal property. 

The value may be more in the land depending how big it is and the location. If utilities are already there on the land, that's where the value comes in. It's very expensive and time consuming to develop raw land. 

As for financing, you may want to look at a couple of different lenders to compare. Check with local banks and small credit unions in the area. Also, if the seller is willing owner financing may be another option too. 

Hope that helps! 

@Andres Gonzalez When it comes to wholesaling (whether real property or personal property), there are two main ways to do it. Either you do a double closing taking title to the home and selling to another buyer simultaneously or doing an assignment of contract where you assign your interest to another buyer for a fee. 

Personally, I started out as a bird dog and wholesaler finding deals for other investors in single-family homes. I used assignments when wholesaling. 

Now as a mobile home investor, when I wholesale mobile homes I also use assignments as well. 

If you have any questions or need any resource on this topic and niche, feel free to DM.

Hope that helps!