Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Land & New Construction
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 4 years ago,

User Stats

205
Posts
138
Votes
Justin K.
  • East Texas
138
Votes |
205
Posts

Value add to existing property

Justin K.
  • East Texas
Posted

I purchased this piece of property two weeks ago with a 3/1 on a large lot. The house sits in the back of the property and basically has a massive front yard. The 3/1 is a stick built home. ARV after BRRRR is around $90k. This is in the middle of no where rural so we are not talking about high end subdivision.

So while listening to a BP podcast about value adding to a property, a light bulb went off and I had either a stupid or great idea. Why not buy a manufactured home and split the property into halves and have two units on one piece of land. 

I inquired about modular homes but they are wanting something like $95/SF which after refi I am not so sure...

I inquired about a manufactured/mobile home and they are easily in the 1% rule and possibly the 2% rule.

So does this sound like a possible business path that sounds legitimate or would adding in a mobile home decrease the value of the other home and everything be a wash?

Loading replies...