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Updated over 6 years ago on . Most recent reply
Do people Rent Mobile Homes
Hello, I'm looking to get into REI, I have some equity on my house and I'm looking to buy and rent a property. I notice there are some new construction on mobile home and they are selling them for around 50k. I'm looking to put around 20% down. Now my question is do people rent mobile homes, I'm in Virginia NOVA area. Since I'm new and don't have a lot of experience I'm looking to start small. I have read the books and listen to a lot of podcasts and still learning by research on real estate, thanks.
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Welcome to BP. Experienced investors prefer to buy MH parks (the land) and then allow mobile home park owners bring their mobile homes to the park. This allows you to save on expenses and management fees. Now, it doesn't automatically rule out other possibilities, but each should be considered on a case by case basis. Do a research to see if MH's are in demand as rentals in your area, talk to local MHP investors and take it from there.