Mobile Homes a Valid Investment?
Ok,
I have to say honestly that MH's was not a consideration for me until today.
In my search for motivated sellers I have found that there are an abundance of them in this area.
Ofcourse this seems understandable in that they are not as easy to sell for the average individual, thus make them ideal for the right investor to make a proffit.
But, Im a bit nervous or cautious, not because there isnt a potential for proffit but, that of the unknowns or variables.
One in praticular is this, and one I am wondering about. I certainly am not looking to only invest Mobile Homes.
But, I do not wish to over look it either. My concern is, Dealers License, is this something I will have to have? Be it state or Federal?
Also, does the dealers license come into play if you buy and sell frequently is it needed if you make them rental properties?
BTW, I live in Macon Georgia if that assist in these questions.
Mark
Oh one more question, any online sources for determining MH values like NDDA
Hey Mark,
I looked to MH's myself and it looks like it could be good way to get your feet wet in investing. Some investor's buy distessed MH's between 10 and 20 year's old for very very low prices and spend a few hundred dollars fixing them up and reselling them for a huge profit. Often the down payment they get from the buyer covers their entire costs including the price of the mobile home. Then they owner finance the rest at about 20% over a few years. Kinda like getting rental income with out having to fix toilets! There is book on the subject available called Deals on Wheels by Lonnie Scruggs not sure if its available through this site or not but you might want to check it out.
Take Care
Blueswarrior
Manufactured home values can be estimated at http://www3.nadaguides.com/
from 1976 - 2001
Scott