Rehabbing & House Flipping
Market News & Data
General Info
Real Estate Strategies

Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal


Real Estate Classifieds
Reviews & Feedback
Updated over 8 years ago on . Most recent reply

This may sound funny...
But does anyone here rehab mobile homes? Because I happen to live near an area that has a lot of mobile homes. And although I would never put anything too fancy in them, but I think it would be a good small way to learn the bigger picture of flipping houses.
Most Popular Reply

Howdy
As mentioned, search the blog for tons of info. Some hate this niche, others love it. Like me.
My wife and I buy, fix and sell mobile homes. Most are cash sales with an occasional payment setup.
For us, they have generated awesome returns compared to stick built (I did a bunch of stick built and 2 apartment bldgs before the market crashed in 2008).
We just sold a mobile a month ago. Bought for $6k, repairs were $14k so had $20k in it. Sold for $59,900. So netted $39,900.
ROI @ 90 days was 200%. Annualized 800%. Never was able to do that with a stick built deal. EVER!
Just bought another for $5k. There is one in the park for $89,900 right now. Not as nice as mine will be when we get done. Will take about $15k to fix up.
Agree that relationships with park managers is a key element for us. The last 2 were park managers calling us with non listed 'for sale' properties.
Rentals are usually area specific. No rentals allowed in my area. OR/WA. South mostly vacation areas (AZ, FL etc) that I've seen. May be wrong on that.
Good luck and have fun!