Mobile homes investing

[Allan Tolbert]

So nobody into mobile homes?

[Jerry Lucker]

@Alison Lee

First I would evaluate local comps. What are similar units selling for in what condition?

Run the numbers for the unit you are considering:

1) What can you reasonably sell it for after prettying it up? (ARV)

2) what will it cost to rehab? This will be based on how much you have to do to make it a value compared to what the comps show.

3) What do you need for a reasonable profit for your time and money invested? I make 50% + on all my deals.

4) What you can buy the home for.

1 - (2+3) = 4

You’ll probably find you don’t need to go overboard with the fix up. It is a used mobile home after all. Doesn’t need to be like brand new. Most of the comps will be homes currently lived in. Most of the people have to sell ‘as is’.

A thorough cleaning, some fix up and touch up, new paint and flooring, and nicely staged should do it. Roof if really needed. Windows are great if done right. New vinyl double pane windows cost less than $200 each - material.

Installation is a snap - I can easily do 8 windows in a day. I’ve run into many people that paid $1,000 per window installed. That’s close to robbery :)