Choosing The Best MH Investment Strategy
As a new member to this board, I look forward to learning more about the MH aspect of investing. My next step is to locate the Scruggs book unless anyone would recommend a different book for those getting started in this area. In the mean time, I have 2 questions for which any feedback would be appreciated.
1. As a MH investor, would it be more desirable to purchase MH lots to flip to other investors or MH dealers or would it be better to purchase and hold the lots to be leased to incoming owners (or contract-for-deed, owner finance, etc. assuming the park allows). This also assumes the rate or return is relatively comparable considering time spent and expense incurred.
2. Is there a size of a MH community at which point an average investor would experience diminished returns (i.e. What size is most preferred, 10, 30, 100 homes/lots)?
Thanks for your input!
[addsig]
Both of your questions are dependant upon the investor and the area. In northern Florida its better to get land/mobile deals, in southern florida you can sometimes pick up mobiles on lots in parks for 500 to free. I usually look at what is selling and then try that route. Its easy for me to buy anything, selling and financing tends to be the harder part for me personally in my area. So I try and jump that hurdle first.
Good Luck,
Kyle