Investing in Mobile Homes AKA Cash Flow Machines

http://www.mustknowinvesting.com I met one of my buddies, Eli Sanderlin at one of his mobile homes in North Charleston. Mobile homes can be great little cash flow machines. Eli explains the deal and gives some tips on investing in mobile homes.

Category:

Howto & Style

Tags:

• realestateinvesting
• real
• estate
• investing
• mobilehomes
• mobile
• homes
• investment
• buyingmobilehomes
• buying

[bicepsca]

are you still in real estate? i see this video is old

[priddle34]

@bicepsca Yep, was at a rental property this afternoon in North Charleston.

[LindseyTorres]

How do you determine the value of a mobile home?

[priddle34]

@LindseyTorres I usually only offer up to a few thousand bucks for mobile homes (since it's not my primary niche - single family houses)... and I value them more off of the potential cash flow and how much it's going to cost total (purchase price, repairs if any, etc) to get into the deal.

A great thing to do if you're just getting started is to find someone who is actively buying them in your local area and get them to help you evaluate your first few deals.

[heightboosting]

why not buy parks ????

[priddle34]

@heightboosting Yeah, I agree with you... why not? You can make good money on just buying mobiles individually... but if you can find a great park deal, that's big money!

[SELLUSTUFF]

@VeteransAgainstKonop HI WHERE DO YOU STORE THE MOBILE HOME TILL SOLD** IF IT NEEDS TO BE MOVED ITS TOO EXPENSIVE??**WOULDNT IT BE?? THANKS

[LindseyTorres]

How do you determine a mobile home's value?

[bloomingrosevine]

cool- one more reason to not have an attitude when it comes to investing.

[free2rhyme214]

I live in the bay area. There's a 1974 double wide Skyline mobile home selling for $19,500. I got the seller to come down to $17,500. Is the price so high because of the area I live in or because in CA you have to "buy into the park" with that kind of money? I sell it owner financed for $19k or more I bet but I really haven't found better deals then this in 2 months of looking. Can Eli help me? I've talked to other MH investors as well about this.