subject: Real Estate Wealth - Mobile Homes Can Be a Great Acquisition With Limited Equity [print this page] Real Estate Wealth - Mobile Homes Can Be a Great Acquisition With Limited Equity
A large component of getting into real estate investing is figuring our what assets to buy. A good approach may be to team with mobile home park owners to purchase mobile homes from residents who are looking to move out or move on. Mobile homes offer very low residual value. At the same time, rehabbing a mobile home often is a modest investment that yields monthly revenue on a par with similar sized apartments.
A used mobile home can often cost under $10,000. In some cases they cost as little as $3,000 and will draw rents of $300 to $500 per month. Alternatively, a $3,000 investment may sell on a time basis to a new buyer for $12,000 to $20,000 and offer a high interest rate return -- sometimes 12% or more annualized interest is achieved. The buyer is thrilled because they are home owners. As the investor, returns are outsized and can lead to much larger asset gains.
Many of us shy away from these investments because we feel the investment is "below us" or distasteful. However, this is self destructive behavior and as investors we should examine our goals, our motives, our resources and the psychological barriers we face toward achieving these goals. The potential the mobile home or manufactured housing owner area offers us is a good investment area to consider while examining these issues. We may be ignoring a real economic gold mine.
Moreover, the manufactured housing investment area is likely to be a strong one in the new economic reality we face post the "Great Recession". Therefore, in addition to psychological barriers we should expend time and effort considering and developing resources that enable capitalizing on the winning trends emerging from these challenges. Mobile homes / manufactured housing is a strong area. This examination should consider zoning, density, demographic, and economic factors that favor this housing option. Also, some parts of the nation are much more prone to support mobile home communities as an acceptable housing choice. Considering these areas may offer advantageous investment opportunity.
In addition to the above points, trailer homes offer a variety of investment opportunities not seen in most other investment areas. Debt can be offered to community owners for individual home buyers. Capital can be used to buy individual homes. Purchasing communities offers opportunity similar to buying apartment communities. Also, unlike many rental housing investment opportunities, mobile home communities are disportionately financed with owner financing to the new buyer.
As investors, considering the full range of investments in real estate including manufactured housing communities is an important strategic behavior.
Blake Ratcliff recommends buying
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