Found a FREE Mobile Home to flip?

Question

Hi all,

I have found a "give-away" mobile home. Seller has a long list of issues it needs corrected, none are anything all that complicated. The kitchen is missing...needs a few inside and outside doors and all floor coverings are shot, skirting fixed, windows...

Park is great, we are in an area that lacks affordable rent. Unable to find any turn key mobile homes sold less than 15k. Its a 1976 14x80. Unfortunately the roof is snow covered and feel that is the only main concern of what I couldn't handle.

Is there any other key factors I am missing? Would be looking to put $6k into it, and hope to resell late spring. Haven't seen the inside yet, have just assumed it as a total blank slate. Obviously mold growth or cat pee could change the deal. What else could I be overlooking? Will be doing all the work ourselves, and have had plenty of mobile, single fam and multihousing maintenance experience.

Thanks!

Mark Brogan · Answer

Account Closed, definitely check all the mechanicals first thing they can increase rehab cost quickly including that roof, if its snow covered as it melts it will tell you if the roof is leakingwe love MH's they are all we do now so don't pay any attention to the negative comments you will get from other people, they are a great way to change your life

Rachel H. · Answer

Account Closed You may want to double check your numbers with a few experienced contractors in the areas where the mobile home needs fix-up work. Replacing an entire roof can be costly. So, I'd check on the numbers on that if you have any concerns.

Other items to look out for include: plumbing, heating and air conditioning, siding, hot water heater and any flooring issues. With a home that old, you definitely want to be sure on the items that need fixing up and their costs.

Hope that helps!

Caleb VanTimmeren · Answer

Account Closed we use all LVP for our floors, yes they are a little more expensive but they last.  We are firm believers that if we are going to flip or renovate a place we are going to do it right and put out a good product/home.

Caleb VanTimmeren · Answer

Account Closed

Me and my partner own a park and have some old trailers that we have renovated.  Definitely want to due your due diligence before jumping in and spending more than you planned on for the renovation.

Sounds like you are in a northern state with the snow (as are we).  a few things to check would the water and sewer lines.  If the trailer has been sitting with no one living in it or abandoned there is a good chance the water lines froze and if not properly winterized could have broke or burst.  I would also check all the insulation and heat tape to make sure they are working.  One other thing to note is windows for MH's are different than a standard window you would buy at a box store, you will need to buy these from a MH parts store.

Otherwise if the bones of the trailer are in good shape jump on the project.  Fresh paint, new flooring, new appliances, updated kitchen and bathroom go along ways.

Best of luck!

Will Fraser · Answer

Hey Account Closed, I wouldn't know a good mobile home from a walnut if they were both presented to me, BUT a client of mine repositions them and I know he averages about $14k per unit.

I'm not saying that the rule, but I'd be doubly or triply sure of your numbers before jumping.  Even free can be a bad deal!

Account Closed · Answer

You've caught my interest! So for here (Southern MN Metro area) 15k gets a trailer that is early 80s, in fair to barely liveable condition while a late 90s can go for 20k and higher. I don't have a lot of wiggle room, unless we keep as a rental?

Am I in the wrong market, or looking in the wrong places? Have been staying away from contacting park offices - with the increased rent they seem pretty set on removing all the outdated and installing newer homes. Other then that its Craigslist and Facebook. Maybe just need to drive through and look for sale signs.

I am in no way trying to imply I do any halfassery :) Crown moulding and a boxed out frame usually make up the difference in thickness on the 2x3 trailer walls.

Thanks again, typically when I mention flipping mobile homes to anyone its usually responded with an eye roll or "why?". Good to hear that there are people out there successfully doing it honestly!

Account Closed · Answer

Thanks Caleb and Will! Turns out the park has phased out the trailer after the current owner leaves and would either need to be removed or demolished. I guess that the owner either hasn't caught that part yet, or forgot to mention that small detail in our conversations. The search will continue...

@Caleb What would you recommend for flooring? Love the idea of the vinyl plank for a mobile home, seems to cover up the imperfections and stays durable plus i can install that myself - but 1200 sqft of plank makes a huge impact on the flip budget.

Also, I tend to remove mobile home sized doors and windows and replace with standard when needed. Little more work framing and fabricating to look good, but the Sawzall doesn't seem to complain about making a little bigger opening!

Caleb VanTimmeren · Answer

Contact local parks or movers and see if they have anything available they are looking to get rid of or move out.  You may be able to find one for cheap that way so you have more wiggle room for the reno.