Mobile Homes/ manufactured homes

[Jaki Ollango]

Hi guys. What are your experiences with having  a mobile home? Are they worth it/profitable? Key thins? K

[Lynda Wesch]

We started small purchasing a park in a county area with 6 mobile homes and two stick built homes.  This is an out of state investment, which took some time to learn the different laws.  This is a fixer park.  To date, cleared out the tenants that don't meet our criteria, rehabbed two mobile homes.  Working on general fixing and cleaning, 13 trees have been removed.  I'm currently getting bids to redo one of the stick build houses roofs.  We are 100% full.  Tenant love living here, they know if there is a problem we get on it right away.  I'm currently rethinking rehabbing the mobiles, our cost of rehab exceeds the value of the homes.  That being said, we are getting top dollar for rent.  Our goal is to sell off the two mobiles that we own in the park to cut out maintenance down the road.  We just closed on another small park (same city), that has all tenant owned houses.  The new park is located in the city (more rules from the city).  Currently we pay for water,trash and sewer.  New lease are in the tenants possession that state we will be installing sub water meters, and billing for the utilities monthly.  I'm still learning, but so far I really like our investments.  No regrets starting small.