Prefabricated Homes?????????
Hello everyone, does anybody know about these homes? I mean I was told that you can buy these homes brand new, for a very low price. They're wholesale distributors of these homes, so there is a lot of equity in them when you purchase them and they're located in Atlanta, Ga. If anybody knows anything about these homes, because it might yield an good investment opportunity, would you please let me know, thank you all.
When you say "prefabricated home", do you mean a mobile home, like a doublewide or something, or do you mean a modular or "factory built" home? We live in a modular "factory built" home, the ONLY difference is that it is built off site (ours was in 4 sections) and transported to the lot and put together with a crane. It is still considered (and is) a stick built house. Value is no different, nor is the quality. We have lived in it for almost 11 years. The only noticeable difference in my home is that where the pieces went together, the walls are 8" thick instead of 4". It has been appraised about 4 times over the last several years and always is comparable or slightly above the site built homes. It's not something we could just pick up and move if we wanted to.
If you are talking about mobile homes, I know nothing about them. Hope that helps a little.
Thank you for responding, yes thats exactly what I'm talking about. I was told that there is wholesalers of this kind of home here in Atlanta, Ga, also that the distributors of this type of home offers investors an opportunity to buy them for a very low price, which in turn leaves a lot of equity and the homes are brand new, so I'm trying to find out who the distributors are. Thank you
Are they giving you a deal from the factory? Or after it is already on site? Things you need to remember for this type of house if you are buying from the factory: lot must have foundation in place with water and sewer, house transportation to site (I would think the factory would arrange this), a crane has to be hired to set the house in place (the guy who did ours must have been VERY experienced, as the house went from being on trailers to perfectly set in place in less than 4 hours), then crews for finish work (electrical connections, plumbing connections, HVAC system, finish whatever drywall and flooring needs to be done). We worked with a builder who deals with these homes. I dont have any idea what he paid for the house itself. It took about 6 weeks from the time the house was "set" to being 100% complete and ready to move in (you have to allow time for county inspectors too). Still overall less time than a site built home.
The place our house came from built the houses "to order", meaning they didnt have inventory to speak of. Maybe the factory you are referring to has homes they completed and the deal fell thru??
You can get them cheap? we call them "Ryan Homes" because that is the most popular in this area. In certain areas these houses are more than brick houses. But banks love them they call them cookie cutter houses. If you can get them cheap and you are a developer it would be a good investment. Do you have the land? Are you familar with the zoning laws in the area. Or are you just looking to do one at a time?
Lori
[addsig]
maria28, you sad: "...leaves a lot of equity and the homes are brand new,.."
Hypothetically speaking,
Yes, there is a lot of equity in brand new homes that travels on the truck and a lot of money in the bank's safes and if you'll only know how you can get it to move to your pocket you'll be reach. Hey why not. And yes I heard of somebody that comes and brings you the money and puts it in your pocket and you need nothing to do but I can't find him neither retail not wholesale. I also heard you do not need cash oranything....
Story like this are excellent example and non confusing indicators of how the beginner's set of mind might work, hoping to get quick and fast solution. Never the less, to the best of my knowledge, this site does not offer get reach in couple of months solution so if you want to get serious and on the right track, please begin by first placing question in the right forum. Wholesaling forum is the wrong place to ask development questions. Please place the question in the Building/Developing Forum and you'll certainly receive better quality response.
One (more) suggestion thou, be aware of the unprofessional advises that might be rendered by some members doing let say loans, in different states. Although they might have heard of houses called "Rayan the manufacturer or distributor of the homes you are looking for. Different states often have different requirements and specs so different prefab houses cost different $ in different region of the country. I can offer you some info on the maker here in LA but I do not believe that you would like to transport it across the country. Would you?
The best thing to do is find the home already build and to trace it to the builder. In my opinion, there is no better info then the one coming from the "horse's mouth"
Good Luck!
pinkflamingo,
What was the square footage of the home you built?
How much did it cost you in MD for the:
1) Home/delivered "box" itself
2) Finishing Work
3) transportation
4) Set up in position crane.
Maria,
I've been in construction for more than 25 years and have seen a bunch of folks get the shaft on pre-fabs, cost overruns, poor quality, bad warranty service. That said, it can also be a less expensive route to go as long as you cover your bases. There are a lot of things to consider and many of them depend on the individual property where the home will be built. If you'd like to discuss it, e-mail me and we'll set it up - **Please See My Profile**
Thanks for the responses. And to Omega 1, my frame of mind is not to get rich quick when doing real estate, true I am a beginner, but I'm also curious. Something was brought to my attention, I didn't know the answer, so I asked a question. Thank you anyway for your comments.
Quote:
On 2004-02-11 16:49, omega1 wrote:
pinkflamingo,
What was the square footage of the home you built?
How much did it cost you in MD for the:
1) Home/delivered "box" itself
2) Finishing Work
3) transportation
4) Set up in position crane.
I really don't know what the breakdown of the pricing was on our home. As I said we went thru a builder. It's a 1738 s.f. rambler, 3 bed/2bath. We already owned the lot (paid for). We had it built in 1993 and the total amount for the house was $100k, and that included site prep and foundation, delivery, setup, finish work, HVAC and well/septic. So I'm sure the builder got the house for probably half what we paid.
It appraised last March when we refinanced for $229k.
sounds like a very good deal at $57/sq ft..but then again it was 11 years ago...by todays standards thats a very good price.