Adding Mobile Home to Vacant Land

[Tom Scott]

Hi all, the wife and I live in the country and land prices are pretty low where we live. I'm curious if anybody has had success buying vacant land and placing a nice single or double wide mobile home on it and renting it out? The idea popped into my head yesterday and I have done zero research. Some back of the envelope calculation would indicate it would seem to make sense cash flow wise but I would need to verify the amounts as I am not sure how much it costs to buy and install a mobile home. Any thoughts or experience in this area would be appreciated. 

Tom

[Steve B.]

There’s a lot to consider.

First check with the County and the city regarding zoning, foundation, blocking, tie-down, and skirting requirements. Some have home age and insulation and wind resistance requirements too.

See if utilities available from the street and Determine the run length. Around here many counties charge about 15k just for the privilege of connecting to water and sewer.

Also consider new and used home costs and moving tear down and assembly. A couple of years ago used double wides were basically free, now they all seem to be resold at a premium (check your Craigslist)