New to BP and Mobile Homes

[Nick Sitterly]

Hello all,

I’m new to Bigger Pockets and real estate investing. I’ve been interested and looking to do something for a while, and I’ve already been burned once. 

Recently my wife and I were looking at listings online and saw a mobile home for sale. I reached out to the owner of a local park and they expressed interest in us purchasing one or more homes in their park, and assisting us with renovating and renting them. They also stated they were looking at getting out of the business in the next 4-5 years and seemed possibly interested in selling us the business.

With the market so high currently mobile homes appeal to me with the low investment and somewhat high ROI. I'm wondering if anyone in this group could offer some advice in this area, things to look out for, and just general beginner tips. I'm aware of some concerns such as lack of equity compared to a normal home, etc. We live in rural upstate NY.

Thanks for any help that can be offered!

Nick Sitterly

[Wale Lawal]

 Welcome to BP! I can not speak on the NY market, but for me, real estate investing for beginners doesn’t have to be overwhelming. Start small, do your research, and consider your short-term and long-term goals. Talk to experts and learn more about investing and the market where you wish to buy, and most importantly, don’t rush!