All Forum Posts by: Rachel H.

@Fiona Brown I've never heard of this group. It might be best to hold off until you hear of other BP members who have experience with them. 

Feel free to keep us updated on your findings here. Thanks for sharing! 

@Dee Mandrekar Yes, definitely check with the zoning department per the advice of others here. You'll need your address and legal description so they can look it up and tell you what you can and cannot do with the land in terms of zoning. 

Hope that helps! 

@Sean Gammons If your land is zoned for up to three mobile homes, then you should be able to file a permit to put another septic tank on the land if that's what you want to do. This is something you can double check with the city. 

Also, when talking with different septic companies you can also bring this issue up as I find contractors to be very helpful when it comes to permits and the city or county. They may be able to give you some input and feedback based on their experience. 

Hope that helps! 

@Matthew Scott The first question would be to check the zoning. If the home is OK to be zoned for used mobile homes, you'd have to check on any restrictions (i.e. size, age, etc). 

From there, you'd have to figure out exactly the sizes of the homes you want to bring on the land and how far you want to space them out. The smaller the home, the harder it is to find a good, used home in decent condition (in general). 

Personally, I've known mobile home park owners with this challenge when trying to find smaller mobile homes to fill their lots. Another option is to fill the space with RVs. Though, you'd have to check to see if there is enough demand. 

If you need more guidance when it comes to moving the homes and what's involved, you may want to talk to a few local mobile home dealerships. In the past, I've found them to be good information for market insight and referrals. 

Before you spend any money, you just need to price everything out (i.e. cost of homes, moving costs, installation, hook ups such as electrical, water, etc). 

One last thing, if the land is not developed and does not have the proper infrastructure in place the project will be more costly. Usually, it's best if there is existing infrastructure in place when taking on this type of endeavor. 

Hope that helps!  

@Michael J. As in any area of real estate investing, it's best to pick a niche and learn it. From there, it's just a matter of learning the market and picking an exit strategy that works for you. 

In the beginning, I started out as a bird dog and then wholesaler finding deals for other investors in the single-family home space. Once I built up enough cash, then I became a buy and hold landlord of single-family homes. 

From there, I sold my entire portfolio of single-family homes and got into mobile home investing. I started out buying and holding and have expanded to wholesaling mobile homes. 

When it comes down to it, it's just a matter of finding something that works for you and sticking with it. With each deal you do, you get experience and knowledge which takes time. 

Hope that helps! 

@Madison Clark Many investors in the business use Rent Manager for their management program. Hope that helps! 

@Damian Johnson Usually, the transition to full-time investing comes when there is too much business and less time to focus on the day job. For some, it's a goal. 

Though, for others - part-time investing works for them. 

When it comes down to it, it's best to have balance in everything that we do. Both in our business lives as well as personal. 

Hope that helps! 

@Austin Ralls If you're going to go this route, it's usually a safer bet to do it around land parcels that around have mobile homes on them versus those that do not. 

It may be a good idea to drive the areas you're interested in buying to see if you can locate any parcels of land around areas with mobile homes already on them. 

Hope that helps! 

@Nathan R. In my experience, usually mobile home dealerships sell new homes and work with lending companies to provide financing. Usually, I don't really see mobile home dealerships offering seller financing for their homes.

Regarding the used homes, most mobile home dealerships I talk with are only concerned with selling new homes. For the used homes, I ask them to refer them to me if sellers are looking to sell their older, used homes. 

Hope that helps! 

@Rojelio Raymond Ayala Great to hear about your deal! 

Yes, I do hear this all the time about how deals fall through with clients and agents purchasing them. Interesting to hear about how you put the deal together and the type of financing you received on it. 

Thanks for sharing!