Are Mobile Homes In North Caroline a Good Investment?

Question

I was recently asked by a Client, who owns a few acres of land in Greensboro, NC and is thinking of putting Mobile Homes on part of it. Are mobile homes in North Carolina a good investment or not? And state why or why not? Please be totally honest with your response. I don't want to steer my Client wrong, thank you.

Mark Brogan · Answer

@Rebecca Ramos, mobile homes are a great investment to put on land if he/she is planning on renting them out, if they are on their land they will appreciate in value and if they are in parks they do as well and the great thing about them being in a park is they are taxed like a vehicle which means they are very low, everybody loves to say they lose value, they have increased in value in parks and on land tons lately, I for one am glad people still believe this cause much less competition in this area of investing

Paul Sofia · Answer

MHs are a depreciating asset if they are not tied in with the land. I'm a licensed dealer just outside of Charlotte. If your friend subdivides and puts homes on there, they will either gain or lose value based on the current market. If they are put on a rented lot, they depreciate like an automobile. Mind you, if they are looking to invest, they would need to see how many homes they would be able to place on the lots and get the soil evaluated for septic systems after zoning consultation. If it's in the city limits, you will not be able to put a MH on. I'd be more than happy to answer any questions.

Rachel H. · Answer

@Rebecca Ramos If going this route, your client will have to check with the zoning department to see if it's possible to put mobile homes on their land. There may be a few stipulations (if any). Also, if possible check on the age, size and condition of the type of mobile homes that can be put on the land. In some jurisdictions they limit what you can and can't put on your land and its condition. Hope that helps!

Rebecca R. · Answer

@Marc Rice Thank you for your comments and making me aware that mobile homes are a depreciating asset. Your suggestions about mobile homeowners and tiny houses as tenants is very helpful. Thanks again!

Rebecca R. · Answer

@Rachel H. Thank you for your reply Rachel. You're right about having to know what age, size, and type of mobile homes are allowed, if any, in that area. This is great advice too, thank you.

Rebecca R. · Answer

@Mark Brogan Thank you for your reply Mark. Your comment is something to consider also, thanks.

Rebecca R. · Answer

@Paul Sofia Hi Paul, thank you for your reply. I did mention to him that he has to get the land surveyed before considering anything but I forgot about the zoning aspect. Thank you again for your input. He has decided to hold off doing anything for now but I'll contact you if he decides to go forward with MHs, thanks.

Marc Rice · Answer

Mobile home PARKS are a great investment where tenants will pay monthly to put their own mobile home on it and take care of their own mobile home they own. The land will appreciate and its very low overhead as long as water and sewer are connected to public services.

Mobile homes CAN make money but they are a depreciating asset like a car. I would advise them to set up the utility hookups to allow mobile homes to park and just rent the spots out. They could get a premium by targeting tiny home owners.

Are Mobile Homes In North Caroline a Good Investment?

Are Mobile Homes In North Caroline a Good Investment?

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