Cons of Manufactured Homes

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Hey folks,

Not 100% sure I'm in the right place for this but we'll see. I have an opportunity for a manufactured home. It's not a mobile home, rather a manufactured home with an attached garage on a decent amount of land.

Check it out below.

Anyhoo... from a cashflow standpoint, this is a great opportunity, I think. I'm not sure if this type of a home can get a mortgage (I'm assuming so since it's a foreclosure) and if I can... then the cashflow numbers are pretty great.

Question is... what's the cons of potentially doing this deal? What are the cons of manufactured homes specifically? I know they won't appreciate like a house but as long as they DO appreciate at all, this is a deal that I would be interested in.

I'm completely green to this asset class so any input would be greatly appreciated AND if this happens to be in the wrong place on the forums, let me know and I'll gladly move it.

Thanks!

[Rich Ferradino]

@Senthil N. The life depends on how well the house is up kept. I have a 1985 Mobile Home I'm renting for $800.

Yes, you can convert from personal to real. You just have to file some paperwork.

In San Antonio we can move them for about $2k for Single and $4-5k for a double. There is a big market for used, but be willing to owner finance. However you can charge 12% to finance.

Like all insurance it depends how much your insuring for, location, and deductible. However I usually plug in $800/yr.