Simply put, purchasing and selling mobile homes or mobile home parks has the potential for much financial gain that you may be unaware of.
The list below shows the major reasons why:
The Money Factor:
If you like to make a lot of money, then mobile home parks is the answer. The simplest reason is that this type of real estate is virtually untapped.
In fact, many banks and financing companies will not finance a mobile home.
Now, if you can buy a mobile home at a cheap price, renovate it so it looks really good, then sell it back at a slightly higher price, including a couple of small fees. You just made a small profit.
Imagine if you can purchase more mobile homes, or buy a whole mobile home park. It is a win-win situation for seller and buyer because it no longer requires real estate agents or bank loans.
Selling Options:
You can look for buyers for the newly renovated mobile home, you can have it leased, or you can sell for a rent to own option.
You can even present all three options to buyers looking over the mobile home to give them options to choose from.
Again, everyone wins because of this, most especially, the seller.
Stability:
A projected amount of $3,000 is what you need to have a mobile home moved. In reality, most buyers cannot afford this.
Consequently, mobile homes are rarely moved. As a result, your revenue and tenant base continue to be constant, since they don’t move often.
When a buyer can’t manage to pay for their rental fee, they usually leave the house, and by this time, you can eventually take control of it by the use of the so-called “abandoned property rights.”
Free Will:
if you already own mobile home parks then you know that it is often low-maintenance on your part.
Most of the time, when you rent out a piece of land, you do not need much time examining what your renters are doing with the property. The renter is the one in charge of maintaining their rented lot. The same goes with mobile home parks.
This also means that the park owner can devote time for other business or family matters.
Assisting People:
Mobile home parks are “inexpensive housing” especially for people with lower incomes. There are approximately 60,000,000 American citizens who live below $20,000 as their household income; that’s 20% of the US population.
A mobile home park gives residents privacy, a backyard, and the nice feeling of being in a neighborhood. Unknowingly, you are truly assisting lots of people when you offer a quality mobile home park setting.
Don’t Allow the Media to Mess Up Your Opportunities:
For quite a long time now, the mass media has portrayed a bad image for mobile home parks.
Media portrays these places as neighborhoods for illegal immigrants, rednecks, criminals, and drunks. In truth, mobile homes are inhabited by normal people who might lack the disposable income that others have.
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