Buying a mobile home in a 55+ community and being "underage."

[Knute Olsen]

Hello all,

Looking to start my Real Estate investing career, and it seems the best bet (as far as profit margins go) are in mobile homes.

I have some cash on hand, so I am looking to buy a mobile home for cash in a Mobile Home Park. Put a little lipstick on it, then turn around and either rent it or sell it with owner financing.

As I am searching for mobile homes, I am finding great deals in 55+ communities. I think these would be great to buy with cash, fix up a little, then turn around and sell on owner financing terms. It would be affordable monthly payments to an elderly person who is likely to take good care of it, not flake out and vacate, but can't have rent increases because he/she might be on fixed social security income. Basically, I would be the bank.

My main sticking point is, well, I am not 55 years old. Not even close. I see lots of people in the forums who buy homes in mobile home parks to rent out, rent to own, or sell with owner financing. Assuming you are under age 55, how do you get around the age 55 restrictions as a buyer?