All Forum Posts by: Rachel H.

@Ariel Thompson You may want to check with your manufactured housing association to see if they have any sample contracts available. Many times, they do offer these to their members. 

Other than that, you may want to do some research on how others help sellers sell their mobile homes. Personally, I assign my deals to my end buyers when working with sellers to help them find buyers for their mobile homes. 

Though, I mainly work with mobile homes as personal property (not attached to land) not real property (attached to land). If you're working with mobile homes attached to land, you may need to get licensed to do what you're doing when structuring it this way. 

Feel free to DM if you'd like some resources on the subject. I'm actively wholesaling mobile homes when working with sellers and finding buyers. 

Hope that helps! 

@Maria Mora You would just have to put the approved occupants in the lease. Though, yes it's not a guarantee people won't live there and squat illegally. 

Regarding eviction court, usually the judge will just go off of what's in the lease when listening to cases. I've done this several times myself and I've won every time. 

Hope that helps! 

@Arlyssa Warner Sure, if you can help find a buyer who wants to live in the community and passes the requirements of living there. 

Another option would be to find a buyer who wants to buy the mobile home and move it. 

Feel free to DM if you have any questions. I'm actively wholesaling mobile homes and have been in the niche since 2007. 

Hope that helps! 

@Mary Ainsworth Good question! When I buy homes in parks, it's just the home. Usually, the park owns the land/lot where the home sits on. 

Regarding moving mobile homes, I've done it several times in the past. Usually, it's because it's on a piece of land and needs to be moved. Or, it may be in parks I usually don't do business in and move them to other parks I do business in that give me incentives (i.e. pay for moving costs, hookups, free lot rent, etc). 

Feel free to let me know if you have any other questions. Hope that helps!

@Mary Ainsworth Learning the market when it comes to mobile homes is similar to single-family homes. You just want to be as close to the subject property as possible when running comps. 

In the mobile home investing space, I've found the best source of information for market insight are the park manager and/or owners (if you're buying in a park) and mobile home dealerships (if buying out on land) as well as real estate agents who specialize in the niche. 

Personally, I've been in the mobile home space since 2007. It's been quite a rollercoaster with its ups and downs. I started out buying and holding homes for cash flow. Now I've added to wholesaling mobile homes as a revenue stream. 

Like any other niche in real estate, it has its ups and downs. Overall, it's been quite profitable. 

If you have any other questions, feel free to DM. Hope that helps! 

@Jamie S. You may want to branch out and start looking for private lenders to help fund your deals. 

Check out your local real estate investment club which is a good place to start. Many times, there could be members there who are looking for deals to fund or know others who fund deals. 

You may also want to see what other local sources investors are using to fund their own deals. This may help you to expand your options when it comes to funding.  

Being local to the area where you're buying is important and can help you find local funding sources such as private lenders and/or future partners. 

Hope that helps! 

@Paul Ross I agree with @Adrian Smude. It's best to scope out your options and talk to multiple sources. 

Check with your local real estate investment club. See what local funding sources other investors are using to fund their deals. This may be a good start. 

Also, you may want to see if there are any private lenders in the group looking for funding options. If not, there may be people there who may know others who are looking for deals to fund. 

Hope that helps! 

@Jennifer Long Brenner It would depend on the private lender and what terms they're looking for. It's best to ask first and then work from there. 

Those investors I've known to work with private lenders ask for a figure in mind and try to work with the lender on making it a win/win situation. 

I knew an investor who did this for multiple mobile home deals (as personal property not tied to land) and worked with one private lender. I believe it was at a ten percent interest rate. This investor made sure to pay the private lender every month until the loan was paid off which led to multiple deals. 

Best of luck with your deal. Hope that helps! 

@Grady Gilman If the mobile home has not been lived in for a while, it may need more work than it's worth costing more time and money. This could delay your plans moving forward. 

Unless you and your friend are handy yourselves, it's best to talk to contractors who specialize in mobile homes (in their respective areas of expertise) to find out exactly how much it's going to cost to fix up the home. Figure in all the numbers and do all of your research before doing anything. 

Personally, I see value in the land since the infrastructure is already in place. You may want to look into other options such as putting mobile homes on the land in better shape or figuring out how much the land is worth for resell purposes. Think about your options and exit strategy before you move forward with any plans. 

I've known other investors to remove older mobile homes on land and replace with newer, used ones in better condition. So it can work depending on the numbers and the market. Though, this will take time and money. It's good to weigh out all of your options and decide on an exit strategy including what you and your friend want to get out of the deal. 

If you have any other questions, feel free to DM. Hope that helps! 

@Zachary Palmer Great way to find a deal! Congrats on getting the mobile home fixed up and sold. 

Thanks for sharing!