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Updated almost 6 years ago on . Most recent reply
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Mobile home investors where are you
I am looking for mobile home investors especially in NH, MA, ME. Very new at mobile home investing and would like to talk to other seasoned or new mobile home investors.
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- Rental Property Investor
- Clarkston, GA
- 1,918
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I bought 10 double wides on their own land in 2015. Have around 19 of them total. I only buy mobiles on their own land. Go to my profile, find my posts in other MH threads especially on lonnie deals and how they are almost dead. Are much harder to make consistent money in than the new persons scratch and sniff will wrongly think.
I buy off auction.com for $18k to $25k. If that doesn't trip the seller's reserve price, then I walk. BTW on auction.com the seller WILL bid AGAINST you. Put your max price in at first and walk away. Ignore and don't get into re-bidding.
I also buy REOs from banks. I find them via zillow.com and their "manufactured" filter. I put in Max $30k and manufactured for the entire state of GA.
Recently, I'm seeing good inventory drying up. I think this model may have run it's course and the banks have emptied out of good location double wides on their own land. I'm only seeing homes in small towns on county roads that I'd never buy for easily finding top renters reasons.
Our buying criteria are; must be 15 minutes to a major (MAJOR) freeway and en total 30 minutes to a good jobs center. (city-data.com)
I've basically given you the entire business model above. Except I've also said: homes in parks are a tough TOUGH business. Homes on their own land are running thin in GA.
Don't pay much for these homes. Lipstick fixups include a new heat pump HVAC and rent for higher than market rent. Or as we ONLY do: rent to own, then seller finance after 12 months to top quality families.