I'm a little surprised that there are so many people who deal with Mobile Homes.... I purchased a couple in my several years of investing but you have to watch out for the following:
1. Mobile Homes depreciate in value (similar to a car)... stick built homes can be rehabbed and value will increase. If you rehab a Mobile, you have to be careful as the age of the home matters... Think about if you had a 1992 Honda Accord. If you decked it out with new seats, stereo, hot paint, cool rims etc, it's still a 1992 Honda Accord.
2. You have to have a licence if you're going to be a MH investor. Texas has REALLY cracked down hard on people investing w/o a license.
3. You have to have cash to buy a mobile home and your money will be made either owner financing (Safe Act concerns) or renting them out (dealing with mobile home renters). You usually don't see your return soon.
4. You're dealing with Mobile Homes.... Not glamorous, and if you're in a park, that presents other issues.
I'm not saying to stay away (because like I said, I found a couple of good deals on them myself) but I would certainly be careful...... Thoughts from others on my comments?
Brian R. Baker, MBA