Updated over 2 years ago on . Most recent reply
Buying Individual Vacant Lots
Hi everyone - I've been coming across individual, vacant lots with utilities/pad already set up, or city utilities available. Has anyone invested this way? Purchasing individual lots and essentially renting to a TOH? Granted you'd have a greater return and it's probably more efficient to invest in a park, but some of these I've found have low barriers to entry and are within the same city. Thinking it could be worth it to get a few in the same area.
I think it can offer someone more privacy and "their own space" versus renting a lot in a park. Curious what people's thoughts are. Thanks
Most Popular Reply
Hi,
I've dealt with mobile homes for over 20 years. I flip mobile homes in parks for cash. They take a lot less money to buy than real estate. They're faster and easier to buy, sell, and fix up. The profit margins are way greater. The competition is a lot less.
I have several mobile homes on individual lots. The investment is often 1/3 to 1/2 of what the same square footage stick built house would cost, And - the rent I get is virtually the same. Renters aren't buying the house; they are only concerned with the size, bedrooms & bathrooms.
I'll rent them for 15 to 20 years then sell them on a 20 year contract. I now own a nice portfolio of real estate also, mostly paid with cash from my mobile home investments. My CPA said he rarely sees a better business model :)