Its Time To Pick Your Niche

If you are like me and you know you want to invest in real estate but don't know what type of investing you want to do may I suggest mobile homes, I know what you are thinking those things go down in value, nobody wants to live in them, they can't take the abuse like a regular SFH can, the parks they are in can be dangerous, I don't want to deal with the people that will live in them, all are valid concerns, let me explain why I started investing in mobiles.

You can buy them using your w2 job without borrowing money from anyone, less risk is always a good idea to those people that are fearful of what can happen if you can't rent or sell the home.

No competition from other investors because most love SFH, thats a great thing because there are an endless supply of mobile  homes to buy if you know where to look.

No need for conventional marketing techniques, just get in your car and drive into the parks you want to work in to look for homes for sale and while you there find out the office number to let them know what you are looking for.

Mobile homes will go up in value as long as you keep them in good condition, or remodel them to new condition, they are like any other home if you don't keep up with maintenance and repairs they will go down in value.

Taxes on conventional homes can be thousands of dollars a year, mobile home taxes are in hundreds of dollars a year since most states tax them like cars.

Rehab costs will be low since the homes are small in size, you cab rehab a destroyed mobile home between 10-15k depending on finishes.

There is lots of talk about rehabbing and the speed needed to avoid high holding costs, in the mobile home space the holding costs are very low so if you are trying to repair the home in your spare time or without hiring a crew to help you the holding costs will not hurt you since all you pay is lot rent and taxes both are usually low.

No they can't take a lot of abuse, its easy to punch a hole in 3/8 inch sheetrock, and if you stomp hard enough you can stomp a hole in the floor, the good news is its easy to repair if needed and hopefully you won't have tenants that will do this.

When you are deciding what parks you want to buy in make sure its a park where you would let your wife and keys come to at night, if the homes are in bad shape and the park is run down STAY OUT OF THIS PARK.

The people that live in these homes are no different than people that would rent your  apartment or SFH.

There tons of positives and negatives as with any business, whatever type of investing you choose good luck to you.

Thanks to all that read this, remember you won't fail unless you quit so get out and start looking for your next or first home.