Mobile Home Investing, STR

[James Devoe]

Hi everyone,

My wife and I are new investors looking to purchase our 1st out of state investment and are very interested in STR.

We've been looking at properties around Lake Royale in Louisburg NC (we heard from family in the area that this is a new vacation hotspot) and we have found some promising properties.

The thin is, most of these properties are comprised of empty lots and mobile homes. 

We own an Interior/Architectural Design company and have designs that would work on these lots, as well as people in the area that can help us with construction and property management, but we've been wondering if it would be more lucrative for us to invest in mobile homes to start out instead.

Does a Mobile Home work out as a STR?

If so, how does Financing and Equity work with Mobile Homes?

Can we build and pull out equity like a house?

Any info would help.

Thank you.