How to Determine Mobile Home Value?

[Joshua Slayton]

 I am currently looking for my first investment. The home is a mobile home on approximately 1/3 acre. The numbers work very well in a buyers favor as far as cash flow/return on capital. However, with the mobile home depreciating in value, how is it calculated differently. 

[Jerry Lucker]

@Joshua Slayton

Mobiles in parks depreciate. Mobiles on their own land are usually considered real estate so depreciation is not a big concern.

I own several mobiles on land. I bought them for 1/3 to 1/2 of what a stick built house of similar square footage would have cost - but - I get the same rent! Renters aren’t buying the place, all they want is the number of bed/bath for their needs.

After renting out the properties for many years I started selling them and carrying the contracts.

They have all turned out to be excellent investments.