Updated almost 5 years ago on . Most recent reply
Purchasing Mobile homes cheap and remodeling
Newbie here....we haven't even purchased our first property. We had been looking into SFHs but now have discovered the lovely world of mobiles homes as rentals. I've been reading through many posts about not to purchase a mobile home for more than $15,000. So many that I see in that price range (targeting eastern panhandle of Florida) would need to be almost completely gutted. With just getting started and not a lot of cash on hand, is it worth it? We're thinking about trying to find owner financing options to get us started that do not need so much work then when we get the cash flow increased to maybe look more into remodeling much less expensive ones. Also, any great books/blogs on mobile home rental recommendations would be great. Thanks!
Most Popular Reply
20 years of flipping and buying/renting mobile homes allowed me to accumulate a nice portfolio of income producing properties. Mobiles take less money and are easier to acquire and fix. Done properly the returns can be amazing. Like anything else, you have to know what you're doing. Most naysayers don't understand and have never actually done a mobile home deal. There are many myths and negative attitudes that keep most investors away. This has been a windfall for those that learn what to do. There has never been much competition. It's a great business - I'd say perfect for newer or beginning investors :)