Modular Homes in Jacksonville FL BRRR

[Jonathan Bernhardt]

Hello,

I am considering buying a modular home in Jacksonville, FL built in 1976 for BRRR. Is there a way to compare values for modular homes vs stick built home comps in the area? Any issues I should be concerned about?

[David Edwards]

A true modular home COMPs no different then a stick build. In fact generally an appraiser will have no idea of the difference as there really isn't one.

Financing as well will treat your home no different then a stick build, generally there is no variation available between stick & modular appraisals, financing, or real estate agents forms and processes.

This is assuming that what you are looking at is a modular and not a mobile or manufactured home.

Some of the early modular's had poor designs and looked like a mobile home down to the paneling in the walls. One thing you could certainly do to raise it's market value is redo all of the drywall and finishings to bring that up to current standard home quality and design.

When it comes to Buying it... take advantage of some sectors of the market thinking the home should be undervalues and snatch that thing up cheep. get it looking good and make off with a bundle.

I am personally looking at Modular construction here in Houston. I'm talking to all of the vendor's about Modular Duplexes. if all goes well I'll be the modular baron on biggerpockets :) I would be highly interested in following your progress when you move forward with this property.