Several people have told me that mobile homes are a great way to obtain rental property. How can you find great deals on mobile homes? I want to buy used mobile homes that need a little repair or new mobile homes at reasonable prices, but I don't I have a clue of where to start.


In addition to renting mobile homes, I would also like to provide owner financing. It this a sound choice?

You could start by doing a Google search for mobile homes that might be for sale in a location where you would want to be dealing with the issues concerning them.

I don't know about the owner financing thing. Perhaps someone will come along who knows about that.

Manufactured homes or mobile homes are an affordable way for someone to own a home and/or own a home for rental purposes. The problem with most older mobile homes are that they are not as well built as the ones available now a days and are much more "fragile" than the newer ones. If you own a mobile home where are you planning on putting this? In a mobile home park? Most parks now adays don't allow occupancy by renters. You can contact a local realtor and see if there are any parks in your area that have homes for sale and if the park allows renters for starters. If you wish to purchase a new home they start for a 3BR 2BA at around 35K and go up from there. That's for a single wide. Double wides start around 45-50K for a 3BR 2BA and go up by leaps and bounds. If you have your own property and wish to start your own mobile home park look into the local zoning laws to see if you can do this. I know that parks are good money makers overall if managed properly but it depends where you are located. You can buy an existing park with tenants renting the land but they can be quite pricey for nice ones.

Very unlikely that you could be an investor in the mobile home world, of course where you are will make all the difference in parks and prices. Most states( I'm in So. Cal.) will not allow anything but "owner occupied"... this will all come out because buyers must be approved by the park. Space rent will usually be the governing factor of pricing.
I am a specialist sales rep. in new and used mobiles... feel free to ask questions... "~ M

First new ones are like throwing money into the wind, the minute it moves off the lot, it loses 1000's of dollars in values, Look for repo mobile homes or used ones

Now of course many of the mobile homes are not the high class rentals, so if people start calling you a slum lord that is your own problem. But do you know how to do a lot of maintenance, water leaks, heat and air work.
And are you ready to do the maintenance on them that has to be done.

Do you know the rental laws, how to evict, when to evict and so on

The best way to obtain mobile homes is to find the lenders that do manufactured home loans to individuals and then contact them and ask to speak to there foreclosure department. They will send you alist of the foreclosures and what they are asking for them and you bid on them. Never buy from a company or out of the classifieds because your going to pay retail for the homes. I am a manufactured home investor. I buy foreclosures and fix them up and resell them and I make approx 5,000 - 40,000 per home. There are many things to look out for and expenses people don't expect. Like the tear down and transportation , set-up and permit costs on top of the purchase of the home. If they have been converted to real property you may get lucky and get the property with the foreclosure. Contact me if you have any question. I have done over 600 manufactured homes in the state of Nevada.