MH in NJ are personal?

Comments(4)

• 
  way_motivated20th December, 2002

  actually, mobile homes are all depreciating assets, meaning they will lose value, like a car....makes it hard for the people who need to sell their high end mobile homes asap...

• 
  JohnMichael20th December, 2002

  It is true that MH are a depreciating assets under normal market conditions, but one can force appreciation by just simply buying low. In MH investing buying "Bugs, Dirt, and filth are your friend", Lenders of MHO (Mobile Home Owned) love to dump them quick.
  
  I have a 2 man crew that can rehab a MH in 3 to 4 days at a cost of around $800 to $900 per unit and with an average purchase price of around $1,500 max. I turn units between 5k to 8k in around 45 days or less. I finance some and most sell out right.
  
  Most though I do nothing to them and sell high, with a lower down payment in return for the buyer's doing the clean up and repairs. This increases my profit return and creates forced appreciation.
  
  Most deals only require minor floor repair, paint, roof coating and clean up.
  
  I focus on MH in parks and on land only. If it looks like a dog then if bought low you can turn that little dog into a moneymaker in just a few days.
  
  I suggest reading the following http://www.tcinvestor.com/ViewTopic267-21-0.html
  [addsig]

• 
  20th December, 2002

  Thanks to you both for the great tips.
  
  One more quick question: Is it ok to buy them even though most around here are only selling the home and not the land?

• 
  JohnMichael21st December, 2002

  MH investing can bring a good return, but your profits come when you make your purchase. You have to buy low and sell high. Unlike real estate, I have found it difficult in purchasing a MH in a creative manner.
  
  I stick to MH in parks and on land, due to the set up cost. I also find that they sell the best if on location.
  
  The longer you hold these little treasures, the more they become a liability.
  
  The following sites I find vary helpful.
  
  MH associations.
  http://www.mhrv.net/assns.asp
  
  Free price guide
  http://www.nadaguides.com/Values/ZipCode.asp?UserID=064C51B9B9A&DID=37611&wSec=7&wPg=1102&Value=Free
  
  MH Auction
  http://mobilehomeauction.com/land.html
  
  HUD facts
  http://www.hud.gov/offices/hsg/sfh/mhs/mhshome.cfm
  
  [addsig]