Mobile Home Rentals

[Christian Meng]

Is It common and lucrative for someone to purchase a mobile home for under $10,000.00 and rent it out? I am looking for a lower cost way of getting into rental properties? What is the easiest and lowest cost way of going about this?

[Todd S.]

@Christian Meng

This is a viable strategy. I disagree that “most parks” don’t allow rentals. I’m acquiring a 71-space park in GA that is 85% park-owned homes and many parks across the country are the same. My park has 6 vacant lots that need homes. Eventually I’ll purchase used homes for those lots, but you might find a park owner that doesn’t want the hassle of doing that and will allow you to put your house there and rent it out. You’ll still have to cover the lot rent to the park, but you could build that into the rent that you charge the tenant. You can start driving around parks, looking for empty spaces, and contacting the owners to see if they’re interested.