Scare me away (from 55+ MFH rehabbing)! Or, not.

[Matthew Lewis]

I'm in Mesa, AZ, which, if you haven't toured, has too many 55+ manufactured home communities to mention. Homes can date back to the 80's and can be had at very low prices when in need of rehabbing (decent spread as a percentage of the ARV). Of course, resale can be limited by the over 55 requirement, lot fees can be $750 a month, etc. But, we do have a wave of under prepared retirees looking for a low cost option coming (of course, nobody reading this). Anyone have any experience or insights?

[Ryan C.]

@Matthew Lewis Flippers have had great success in 55+ and it tends to be very competitive market in my area. It’s an easy market to understand in terms of comps, especially with having 4-10 models in the community. Not all 55+ communities are the same in the sense of desirability. If “limited buyers” is what you fear. Check recently sold homes in community/other guys doing what you are looking to do. If folks are buying and houses aren’t sitting. I say go for it!

I myself have been trying to get one in the works, but have been beat out with cash offers. Sooner or later, I’ll get one!

Best of luck!