Dallas-Fort Worth Real Estate Investor Club

Mobile Homes

  • 01 Nov 2016 1:42 PM
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    Message # 4359373
    Deleted user

    Are there any investors out there interested in mobile homes? Just trying to get an idea on if there's a buyer pool for mobile/manufactured homes. 
  • 02 Nov 2016 6:56 AM
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    Reply # 4360593 on 4359373
    Tim Cook

    Hi Crystal,

    Yes I am interested in Mobile Home DEALS on Land in Parker, Hood and Tarrant co.  Please add me to your list info@AllWholesaleProperties.com

    Tim Cook
  • 02 Nov 2016 3:06 PM
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    Reply # 4361442 on 4359373
    Taylor Weakley

    I am interested in purchasing mobile homes all over the DFW Metroplex, please let me know if you come across any!


    Taylor Weakley

    817-939-9436

    taylorweakley@yahoo.com
  • 02 Nov 2016 6:17 PM
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    Reply # 4361601 on 4359373
    Deleted user

    Crystal,

    I own several in Johnson County.  Send me any deals you have.


    Rocky

    IBuyHousesin7Days@Gmail.com
  • 16 Nov 2016 4:28 PM
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    Reply # 4396099 on 4359373
    Deleted user

    yes we would be interested in buying mobile homes also! 972-342-0789

    Last modified: 16 Nov 2016 4:29 PM | Deleted user
  • 16 Nov 2016 8:16 PM
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    Reply # 4396324 on 4359373
    Deleted user

    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 
  • 17 Nov 2016 5:13 PM
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    Reply # 4398376 on 4359373
    Deleted user


    *MHs will not depreciate in value if you buy them low enough you will force appreciation

    *I buy MHs for cash flow and not appreciation.  In fact I purchase all my rentals for cash flow and only see appreciation as icing on the cake.  Some of my most recent MH acquisitions are:  All in Price $55K rent $1175, All in Price $52K rent $900, All in Price $45K rent $975.  I find it rare to see these kind of numbers on standard SFRs.  Taxes are all below $1K as well.

    *Homes are extremely easy to work on.  You have easy access to underneath of home and if the whole roof needs to be replaced should not run more than $3K.  We actually find MH tenants bother us less.  There is a reason they choose to live out in the country on 1 acre of land and that is to be left alone. 

    *As far as tenants being of lower quality - I just don't get that.  We run credit checks, verify income and require one full month as deposit.  I would encourage anyone who is having tenant difficulty to fire their property manager.


    Disclosure - I only invest in Mobile Homes on their own land usually 1 acre.  I do not have experience in MH parks. 

  • 17 Nov 2016 6:17 PM
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    Reply # 4398424 on 4359373
    Deleted user

    Hi Rocky, 

    I think you have some solid points and I appreciate you setting me straight on some of my points... I think my major concern is more toward mobile homes in parks vs MH's on land. I don't fully agree about the lack of depreciation, but with your strategy it really doesn't matter, and if MH's are on land then that certainly helps... Excellent points about easy access to fix issues (especially plumbing etc). Any thoughts on needing a licence to invest in mobile homes? I'm a little surprised that this is a requirement..... 

    Please note: I need to make it clear that I didn't say that Mobile Home renters are of "lesser quality" (although perhaps it was looked at as being implied which was not my intention)... 

    Again, good info here Rocky and maybe I'll look to make my portfolio a little more robust based on this info! 

    Brian R. Baker, MBA 
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