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Updated over 1 year ago on . Most recent reply

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17
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Jacob Knowles
  • Lobster fisherman
  • ME
53
Votes |
17
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Why isn't everyone buying and renting mobile homes? what am I missing?

Jacob Knowles
  • Lobster fisherman
  • ME
Posted

If you missed my other post. I am new and will probably have a few questions while I am studying and analyzing deals the next few days. One question I have right now is whats the down side to buying mobile homes for buy and hold rentals? They seem to good to be true. The only thing I can think of is because they might not appreciate like a normal house does? But so what? the cash flow is threw the roof. Or maybe you cant get as much for rent in a mobile home as you can a house? Whats the deal? As far as cash flow goes they seem like a no brainer. I have found some very reasonable 3/2s and 2/2s compared to houses their same size. When I calculate the numbers they seem to be a pretty crazy to me, but like I said I am learning and am a little skeptical when something seems to good to be true. Would like to hear some input. Thanks!

Most Popular Reply

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13,452
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Steve Babiak
  • Real Estate Investor
  • Audubon, PA
8,349
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13,452
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Steve Babiak
  • Real Estate Investor
  • Audubon, PA
Replied

They are not as durable. Financing them isn't as easy. And then there is this additional recurring expense called lot rent. And some communities want occupants to be approved by the community / association. 

Not to mention the stigma that some attach to this (they use terms like "trailer trash").

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