Manufactured/modular multi housing

[Shawn H.]

In my area, we have a lack of suitable houses for rentals. Many homes are from 1890's-1940's. Not exactly what I want. Does anyone have rentals that are manufactured/modular homes? Has anyone bought or built duplex/triplex etc., from a manufacturer dealer? If so, what is the quality/issues? I'm looking for a more affordable way to develop housing, with fewer maintenance issues than the older houses we have available. Thanks

[Nico Fricchione]

Shawn- building modular can certainly be a good way to go in terms of time-savings and quality.

[Darryl Binkley]

Hi Shawn, I have been a contractor for 25 years and prefer Modular homes over Site or Stick homes. You have a much better control on cost, quality and time. As far as Manufactured homes, gathering you mean Mobiles and Double Wides, they can be very economical to purchase new and used and can be moved if needed. Most mobile parks will not allow investors to buy or put their own units in their parks leaving you to purchase lots/land to set them on. You should gain more equity in a Modular home than a Manufactured home over the time of ownership. Either way you go is fine as long as all  the numbers, cost of construction and/or setup, rent, gain in equity, maintenance, etc. is factored in for the investment. There is a lot to take into consideration. Hope this helps. Darryl