Mobile Home Flipping - How to analyze?

[Mary Ainsworth]

Hello! 

I'm interested in entering the mobile home investing space and I wanted to see if anyone has any guidance on underwriting these deals? 

I already own property in Oklahoma (a quad) but I live in San Diego, so I want to enter my own market and this would be a more affordable way to do that. 

I have already had experience in analyzing house flips so I'm confident in my skill set there, but how should I expect mobile house flips to differ from normal house flips when it comes to ANALYZING the deal 

Any help is very much appreciated!! Thanks :)

PS. If anyone knows anyone mobile home investing in Southern CA, I'd love to be connected! 

[Mary Ainsworth]

Quote from @Rachel H.:

@Mary Ainsworth Learning the market when it comes to mobile homes is similar to single-family homes. You just want to be as close to the subject property as possible when running comps. 

In the mobile home investing space, I've found the best source of information for market insight are the park manager and/or owners (if you're buying in a park) and mobile home dealerships (if buying out on land) as well as real estate agents who specialize in the niche. 

Personally, I've been in the mobile home space since 2007. It's been quite a rollercoaster with its ups and downs. I started out buying and holding homes for cash flow. Now I've added to wholesaling mobile homes as a revenue stream. 

Like any other niche in real estate, it has its ups and downs. Overall, it's been quite profitable. 

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

 Thank you Rachel!! So helpful, I will definitely be reading through the links you send me on the subject too - I'm trying to get all the education I can get right now. 

I did want to ask, when you buy in a park, do you buy the land too or just the mobile home and flip that? If you buy just the mobile home, do you ever have to move it? 

Thanks :)