Is Buying and holding a manufactured home a good idea?

[Paul Falardeau]

Hi all,

I'm considering buying a manufactured home to rent out, but I'm wondering if there are any special considerations I should know about before buying.  

For example, when it comes time to refinance will I have a problem? Are there any challenges when it comes to rehabbing?  Anything else I should know?

FYI, the home is 3 bed, 2 bath, 1400 sqft on .34 acres.

Thanks in advance

[Bill Neves]

@Jen Boyd

Not sure if you were asking me or someone else. 

Modular homes are put on a foundation but are NOT manufactured homes. No metal frame. Built to local building codes NOT HUD building codes. Built in sections in a factory, delivered by truck and put together on site.

Manufactured homes have a metal frame and are built to HUD building codes.

MOST Manufactured homes never move once placed on site. Cost is prohibitive in most cases.

BOTH can stay where they are placed, can be as large as and 'can' look like traditional houses.

Modulars can look exactly like Manufactured homes and may not.

BOTH are "made of better/more durable construction than homes built on site".

Some areas will allow modular homes but may not allow manufactured homes.

Manufactured homes used to be called mobile homes and are still called that in many cases.

I buy, fix and sell manufactured and modular homes and I sometimes call them mobile homes.