Opinions on Mobile Homes?

[Brent Cook]

Hey everyone,

I am a new investor that is trying to get my first deal EVER! I am 21 and I have some cash saved up. I have been analyzing deals, however, the areas that I live near are very very hot right now (like many parts of the country), so I am having a really hard time finding deals that will cashflow and have good returns! Rent is also low compared to home prices in my areas. I have found that my areas have some upper scale mobile home parks that are clean. As well as plots of land with clean mobile homes on them. After analyzing they also cashflow well and some of the deals look good. I was just wondering what everyones thoughts were on mobile homes? Good, bad, doesn't matter? If you have any advice for me that would be greatly appreciated! Thank you for your help guys. I hope you are all having a great year!

Brent

[Rachel H.]

@Brent Cook Great to hear about your interest in mobile homes! Yes, investing in mobile homes does work. Though, it's not for everyone. Unfortunately, those who don't do as well don't really understand the business or take the time to really study the operations of what it takes to buy, sell or rent mobile homes for cash flow. 

Many going into the space want immediate results. But, we all know as real estate investors that success takes time. It took me almost a year to do my first mobile home deal. There were times when I questioned what I was doing. Or, even if the business would work at all. But, I stuck through it. 

After over a decade of experience in this niche, I can honestly say it was worth it. Sure, it has its ups and downs. Periods of highs and lows. Just like any other niche in real estate. Though overall, it's been quite profitable. 

Hope that helps. Best of luck with everything!