Due Diligence Ideas When Looking at MHPs

After viewing the details about a potential property you are interested in, your first step may be a Letter of Intent (LOI) outlining the parties’ initial understanding before entering into a binding contract. Be sure your offers provide substantial time to complete your due diligence on the property.  DO NOT SKIMP THE DUE DILIGENCE.  Income […]

Financing Options for MHPs

Finance companies may be another source – including credit cards to take a cash advance against the card.  Make sure your numbers show you can profit after considering the cards’ finance costs and monthly payments.   Another source – the seller – may be an option, depending on the seller’s circumstances.  Below we will explore a […]

Professionals: You Will Need to Be a Successful MHP Investor

Lenders.  Suppose the home is personal property (the land is not included with the home). In that case, you will want to know lenders who offer chattel mortgages and finance companies.  Chattel mortgages are used in the financing of manufactured and modular homes and MHPs.  If the home is moved to a different location, the […]

Finding Profit in Mobile Homes

The Multiple Listing Service (MLS) does have a category for manufactured housing.  It is typically identified as a home type. It is located on private land as opposed to those found in mobile home parks.  However, the MLS is not typically where you would look for deals.  Others broker mobile homes, including those in parks, […]

Having Options to Own vs. Rent with Mobile Homes

Land and Lots There are situations where the manufactured home remains personal property and is placed on the land.  The land is considered real property.  In this case, the land appreciates while the manufactured home, technically, depreciates.  Although, the actual test for market value is determined by what a buyer is willing to pay. As […]

Fact vs. Fiction with Mobile Home Investing

There are many misconceptions about this type of housing.  One of the biggest ones has to do with the house being mobile.  While it is true that manufactured homes are delivered via the highway, that is often the only time they are truly mobile.  Many manufactured homes never leave the site installed to be relocated […]