All Forum Posts by: Robert E Bogino

This is in a park. Ask is 100k, rehab 65k, ARV 265k. My contractor who specializes in mobile home remodels said expect rehab to be 100k +- 20%, and my agent gave me comps in that same park that averaged 250k. So profit might be 10k-40k if I include closing costs and commission. I've also never done a flip of any kind.

Definitely no park ARVs that high in my area, so I cant comment on that part. Are you using your own cash or hard money loan? Even at a huge rehab number might make sense. Keep in mind homes in parks are more difficult for people to get financing on. At that ARV I would ask your agent how many days on market to expect or which lender people tend to use. Also look at the level of rehab of the comps, be careful not to do too much and work your lot fees into your holding costs.

1 Vote

Seattle, Washington

Quote from @Max Kulishov:

Hello All,

Any thoughts on flipping a mobile home?

Max

Is this in a park or on land? Little more info if possible such as purchase, estimated rehab, ARV

0 Votes

Seattle, Washington

Thank you all very good points. I take over single-family mortgages all the time on sub to. I found out Vanderbilt mortgage doesn’t actually hold the title. A third-party holds it electronically. I decided it was going to be too big of a hassle for when I go to sell it to actually close out the first loan and allow my new buyers to get their loan and not have title in hand.

0 Votes

This is for a single wide on land as true real estate. Ive taken over standard mortgage companies before sub to. Is Vanderbuilt done in the same way?

0 Votes

What are your questions regarding the mobile home installation?

0 Votes

Los Angeles County, California

Free meet up about mobile home investing. Any real estate strategies are open to discussion the focus will be on mobile homes. More specifically rehabbing or moving brand new mobile homes on land to sell as flips, keep as rentals, or sell on owner financing. Future meet ups will be on job site where new homes have been moved to.

1 Vote

Atlanta, Georgia

Yes a little vague on the info. Is it in a park, or on land? If the numbers work they work. I personally ONLY do mobile homes on land now and make way better ROI than most SFR flippers. There is a lot to consider like other have said so have multiple exit strategies. Like knowing if the house will even be lendable by traditional means when you sell it. I do some that aren't, but have that in mind that you will be selling for cash, seller financing or on a much higher rate with a mobile home specific lender (higher rates).

1 Vote

Saint George, Utah

Heck yeah good mobile home deal!

0 Votes

Keep in mind getting it to current HUD standards will still not make it qualify for traditional lending if you end goal is to sell it. That means you will not be able to sell it to someone using a FHA, Conventional loan etc. There are other options but you are limited.

Replacing it wit a new one is my current strategy. As mentioned its not just the cost of the home but the move and set up as well. Dont forget the cost to demo existing home, pre HUD homes are illegal to move in some places.

1 Vote

Chattanooga, Tennessee

Quote from @Zachary Bannon:

Hi All,

Been listening to the podcast and want to find my first deal in 2024.

Located in the greater Boston area and have a friend who wants to partner up. We don’t have a lot of capital and most of our experience is in construction. We were thinking the best course for us would be to do a flip. We are both pretty conservative and as such we thought maybe something small like a mobile home would be a good place to start.

We would love to hear people’s thoughts and we are interested in connecting with people and hopefully finding some mentors.

Thank you,

- Zach

When you referring to mobile homes are you talking about in the park or on land models? I do land, which is basically the same as SFR flips with a few differences. Usually* less capital involved but you do need to be more careful on your exit options as far as lending for your end buyer goes.

0 Votes

Boston, Massachusetts

All Forum Posts by: Robert E Bogino

Robert E Bogino has started 20 posts and replied 140 times.

Post: Mobile Home Flip

Post: Mobile Home Flip

Post: Anyone taken a Vanderbuilt mortgage over Sub To?

Post: Anyone taken a Vanderbuilt mortgage over Sub To?

Post: Vacant lot parcel combined with SFR parcel

Post: Mobile Home investing meet up

Post: Thoughts on flipping a mobile home.

Post: My first wholesale purchase

Post: Newbie: purchasing a mobile home

Post: New Flippers in Boston Area

Robert E Bogino has started 20 posts and replied 140 times.

Biggerpockets Logo Post: Mobile Home Flip

Biggerpockets Logo Post: Mobile Home Flip

Biggerpockets Logo Post: Anyone taken a Vanderbuilt mortgage over Sub To?

Biggerpockets Logo Post: Anyone taken a Vanderbuilt mortgage over Sub To?

Biggerpockets Logo Post: Vacant lot parcel combined with SFR parcel

Biggerpockets Logo Post: Mobile Home investing meet up

Biggerpockets Logo Post: Thoughts on flipping a mobile home.

Biggerpockets Logo Post: My first wholesale purchase

Biggerpockets Logo Post: Newbie: purchasing a mobile home

Biggerpockets Logo Post: New Flippers in Boston Area

Post: Mobile Home Flip

Post: Mobile Home Flip

Post: Anyone taken a Vanderbuilt mortgage over Sub To?

Post: Anyone taken a Vanderbuilt mortgage over Sub To?

Post: Vacant lot parcel combined with SFR parcel

Post: Mobile Home investing meet up

Post: Thoughts on flipping a mobile home.

Post: My first wholesale purchase

Post: Newbie: purchasing a mobile home

Post: New Flippers in Boston Area