Investing In Mobile Homes In Mobile Home Parks

[Tripp Warren]

Hi all,

I'm new to investing. I'm currently searching and working several deals. The one that intrigues me is a mobile home in a park. I get that it scares off a lot of investors but I look at it like a Condo or Townhome. You don't own the property, just the structure. The park is a very clean and well managed national franchised park in a College Station TX. I'm not worried about keeping it rented. I understand that it will be more of a buy and hold and won't really have any appreciation potential but it will have great cash flow. 

The only thing I'm unsure of is how property taxes come into play since the property tax is covered by the park. Do they consider it like a vehicle and you pay tax just on the title?

[Steve Vaughan]

Quote from @Tripp Warren:

I'm new to investing. I'm currently searching and working several deals. The one that intrigues me is a mobile home in a park.  The park is a very clean and well managed national franchised park in a College Station TX. I'm not worried about keeping it rented. I understand that it will be more of a buy and hold and won't really have any appreciation potential but it will have great cash flow. 

The only thing I'm unsure of is how property taxes come into play since the property tax is covered by the park. Do they consider it like a vehicle and you pay tax just on the title?

 I did mobiles in parks for a few years, but I carried the paper like a Lonnie deal.  I didn't want to deal with repairing them as rentals .

Yes, the taxes and title are like cars. Personal property.