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Updated over 8 years ago on . Most recent reply

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Chad Fernendaz
  • Fort Walton Beach, FL
5
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26
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This may sound funny...

Chad Fernendaz
  • Fort Walton Beach, FL
Posted

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

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328
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251
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Bill Neves
  • Flipper/Rehabber
  • Vancouver, WA
251
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328
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Bill Neves
  • Flipper/Rehabber
  • Vancouver, WA
Replied

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!

  • Bill Neves
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