Mobile homes - profitable ?

[Sam Besong]

Are mobile homes worth buying and flipping as well?

[Randy Thomason]

MH's can be immensely profitable if you know what you are doing.  Understand a few things going in though.  They damage easily, they generally go down in value as opposed to a house going up in value, the clientele can be different depending on what you are renting, and many cities hate MH's and have lots of regulations you need to be aware of.  And finally, If your home is in a park know the rules of the park before you buy. Some parks have age limits and if the home you are looking at is a couple of years away from that age you might be buying something you think is a great deal but find out you have to move it out and replace it before you get your money back.

All that said, if you buy right and screen good renters/ buyers then you can make great returns.  Read "Deals on Wheels" from Lonnie Scruggs is a great primer.  There are many other books on the subject too. 

Its very common for us to buy a home for 2-5k and put 5 k in repairs into one.  We can rent those for 650 to 750 per month or sell at 30k with 3 k down.  Great returns but sometimes more management.