Investing in mobile home parks is a risky but lucrative real estate business.
Investors in the sector have traditionally depended on strong demand for mobile homes among renters because you are investing in affordable housing.
But this is changing.
Today, more effort than ever is needed to flip mobile homes successfully.
Investing in mobile homes is significantly less expensive than investing in single-family homes, allowing investors to buy low and sell high.
Remember that cash is used for the vast majority of transactions in the manufactured home industry. These factors suggest that flipping mobile homes could be a successful investment.
Mobile Home Parks Investing is a course that teaches you about real estate investing.
If you’ve read my other articles on real estate investing, you’ll know there are 3 primary ways to invest:
Wholesaling, buy-and-hold, and flipping.
While they each have their pros and cons, there is a ton of potential for success investing in real estate.
Real estate has created some of the largest fortunes in world history.
That being said, you should take some time to seriously think about something:
Is now the best time for YOU to get into real estate investing?
Because despite the potential upside, investing in properties or land takes a lot of capital, and is very labor intensive.
That means if you:
- Have less than 3 hours per day, OR
- Aren’t sitting on $20K+ in disposable income
This may not be the best time for you to start investing in physical real estate.
Don’t get me wrong, real estate investing can be an amazing way to protect your assets while generating cash – but there’s a time and a place for it.
But there’s good news!
All you need is a system to generate the cash (& free time) you need to be ready for real estate investing.
My preferred method of getting there is by becoming a Digital Landlord
It takes the benefits of real estate investing, but removes many of the barriers (& annoyances), like:
- Small cash flow on properties
- Having to take out debt
- Dealing with repairs and upkeep
- Dealing with tenants
The cool part is that the income is mostly recurring (AKA semi-passive).
You could make anywhere from $2,000-$10,000+ per month doing it.
You can build it as big (or small) as you feel like, without the annoyances I listed above.
If that sounds interesting, you might want to think about becoming a Digital Landlord.
Then, you can take the profits and start investing in physical real estate a year or two from now.
If you wanna see what Mobile Home Parks Investing looks like on the inside, keep reading.
What Is Fix And Flip Real Estate Selling?
Flipping houses involves purchasing low-cost houses, fixing them up, and reselling them for a profit. Most real estate investors who flip houses do it within a year of purchasing them. As a result, home investors frequently get more than 40% returns (ROI).
Is Flipping Mobile Homes Hard?
Flipping mobile homes might be challenging because they are very affordable. A manufactured home’s price per square foot is half that of a traditional home, which affects profit margins for many investors in mobile homes.
Flipping mobile homes involves a good balance of improving the structure while not overpricing the market. For a mobile home flip, it’s important to understand your area’s real estate market research.
When You Flip Mobile Homes, You Have To Keep In Mind The Following:
Return On Investment (ROI)
Planning is necessary to profit from flipping mobile homes. You’ll need to understand the ROI of your repair costs and analyze the trends in your area’s real estate market.
For mobile homes needing a cosmetic makeover, upgrading the major surfaces will always provide a good ROI. Walls, ceilings, and floors are examples of major surfaces (add countertops and cabinetry for kitchens and baths). It’s also a good idea to replace the doors.
Small Details Make A Big Difference
It’s important to pay special attention to detail while upgrading mobile homes. Spend as much as possible on cabinet hardware, light switches, outlet covers, and vent covers. Prospective buyers take note of these factors. Small touches make a significant impact in a room.
This portion of the house should not be overlooked by mobile home investors. Bathrooms leave a lasting impression on potential mobile homeowners. That’s because it’s the most frequently used room in the house. Buyers would certainly foresee using this area regularly.
The exterior of manufactured homes is very important. It makes a huge first impression on potential buyers. It’s the very first thing they see when they do an ocular inspection!
Can You Gain Money Flipping Mobile Homes?
Yes, you can!
There’s a lot that comes along with flipping mobile homes that many people struggle with.
Now, don’t get the wrong idea…
It’s not impossible to make money with mobile home real estate investment, but if you’re gonna put in the amount of grueling work to do this business (which, trust me, isn’t easy), you might as well bring in some REAL money while you’re learning the ropes.
The program that helped skyrocket many online businesses to over $40,000+ per month is so simple that making money really does become second nature.
What Are Good Reasons For Flipping Mobile Homes?
Flipping mobile homes is an excellent way to make money because the goal is to purchase a manufactured home for a low price, rebuild it, and then sell it for a profit. In addition, this strategy will cost a lot less money than real estate investors need to flip houses, and there will be considerably less competition in the space industries.
In the United States, the demand for affordable housing is also extremely strong. Thus, real estate investors benefit from high demand from renters and minimal competition from other buyers in the mobile house sector.
Wholesaling Mobile Homes, A Potential Quick Cash?
Real estate investors may wholesale a mobile home by transferring the mobile home purchase contract to another customer for a greater price.
In other words, the investor never legally owns the property but rather serves as a kind of middleman.
The motivation to wholesale a mobile home is to earn fast money while minimizing risk and avoiding the credit check procedure.
Is Wholesaling Mobile Homes Easy?
Wholesaling a mobile home seems to be a simple procedure, but it’s much more difficult to do in practice. The process involves these steps:
- Locate a cash investor.
- Make an offer to the buyer to sell the property.
- Get the purchasing contract.
- Transfer the contract for the purchase of a manufactured home to your buyer.
- Bring the transaction to completion.
When you cannot close on an appealing mobile home opportunity on your own, wholesaling is a useful tool.
How Much Money Can You Make Flipping Homes?
According to top property data firm ATTOM Data Solutions, mobile home investors averaged a 40.6 % ROI or a gross profit of $64,900 per flip in the third quarter of 2019.
The ROI is computed in this instance by dividing the gross flipping profit ($64,900) by the acquisition price (a median of $160,000).
Properties must be purchased and sold within a 12-month period to be deemed a flip by ATTOM.
It’s essential to remember that the gross profit number represents the difference between the initial cost of properties and the price at which they were sold.
According to ATTOM’s methodology, this figure does not include repair costs and improvements, which flipping veterans estimate would range between 20% and 33% of the home’s worth after repairs cost.
How much you make as a mobile house flipper relies on several factors, including your ability to find and buy cheap homes, your rehab and repair budget, and how many manufactured homes you flip each year.
Full-time mobile home flippers may flip anything from 1-20 homes per year, although 2-7 homes per year are more feasible.-
Guidelines On Mobile Home Flipping Business
To earn money flipping mobile homes, investors suggest first creating a budget.
Remember that part of this budget will go toward property repair costs, so add the number of repair costs into your calculations when determining how much money you are prepared to invest into the property.
Find available mobile house properties and have a crew ready to start on repairs. Doing these improvements yourself may also help you save a significant amount of money on your investment.
Put the manufactured home up for sale after the repairs are finished.
Compare the listed prices of comparable homes in the market, then price the mobile house appropriately. This is critical since you don’t want to overpay on repair costs and overprice your home on the market.
Keep your target demographic in mind: people looking for affordable housing. The line between upgrading the structure and outpricing the market is thin.
Is There A Better Option Than Flipping Mobile Homes Business?
It is entirely possible to build a profitable, successful flipping mobile homes business… But there are better ways to build a business other than with mobile homes.
My #1 pick proves this. Because, unlike flipping mobile homes, it actually provides real proof of real success from real people as recently as a few days ago.
Are There Alternatives To Flipping Mobile Homes?
Yes, there are plenty of other business models to choose from if you want to pursue this making money online. Here are just a few:
Is Flipping Mobile Homes A Scam?
So, time for the $1,000,000 question – is Flipping Mobile Homes a scam?
No, not technically. You can 100% make money with this program, though it’s not nearly as simple as they make it seem.
As with most businesses, there is A LOT of work to be done upfront & no guarantee of you being successful.
Not to mention the profit margins are typically pretty small.
Don’t get me wrong, I’m a big proponent of front-loading work now, so that you can reap the rewards later.
But if I’m gonna do that, I want the rewards to be HIGH and virtually guaranteed.
I’d rather put in that same 3 months of work (in my spare time) & build a handful of Digital Rental Properties that each produce $500-$2,000 checks every single month afterward (AKA recurring income).
And the cool part is that you can do it in a lot less time than 3-months (I personally did it in my first 2 weeks of being a Digital Landlord).
Unlike physical real estate, you can do it from anywhere in the world, so it’s a genuine “laptop-lifestyle” business.
All you need is an internet connection.
Some of my friends are Digital Landlords that run their 6-figure businesses from:
- Camping trips at national parks
- Beachfront in Hawaii
- On the road in a camper van (with a pet pig!)
They focus on living an enjoyable life first, and focus on income second. All thanks to this program.
They can take weeks or months off, and money keeps rolling in.
Living happily is the top priority.
If the thought of living perpetually at your dream vacation spot interests you, being a Digital Landlord might be for you!
What Is My Top Recommendation For Making Money Online In 2022?
I’ve personally tried all of the major online business models:
- I’ve sold fidget spinners through Amazon FBA
- I’ve drop-shipped a toilet bowl putting green on Shopify
- I’ve sold women’s health supplements via Clickbank affiliate marketing
And I made money with all of them, so trust me when I say: there is no “perfect” business model.
It’s worth noting that I FULLY endorse real estate investing as a way to grow wealth, and that’s why I invest my own money in commercial and residential real estate.
That being said, my #1 recommendation for making real money online as a beginner is, hands-down: being a Digital Landlord.
Whether you’re a complete newbie, or you’ve been around the block before but have never had that “big win” to propel you forward, becoming a Digital Landlord is for you.
Time: If you’ve got a spare hour or two each day, you can do this. If you want to drop everything and go all in, you can do this. More time obviously means faster results, but even putting in a few hours per day is enough to see real success.
And because of that flexibility, you don’t need to trade your time for money. Once the income starts, it’s recurring.
That means you can take a month off, travel the country, pursue a passion project, chill on the beach, or charter a boat across the world.
But you can only do that once you’ve created an income stream that doesn’t require YOU to be there all day, every day.
Real estate investing is a FULL-TIME JOB. If you stop finding deals, your money dries up.
Ownership & Control: Unless you’re buying your properties in cash, you don’t technically own the properties – the lender does.
If you miss a single payment, the property can be taken from you.
Why pour your soul into a business that could be taken away from you at the drop of a dime?
When you’re a Digital Landlord, you literally own all of the assets, which means you have ultimate control.
Ongoing costs: With real estate, profit margins are actually pretty slim. Real wealth is made in owning the assets, and owning A LOT of them.
Being a Digital Landlord, your profit margin is nearly 100%. Watch here to learn how.
Just a reminder: these Digital Rental Properties are worth (at a minimum) $500/mo in semi-passive income. And each time you create another one, your income increases, and the effort put into creating the next property decreases.
Best-case scenario, you have properties bringing in over $3,000+/mo on auto-pilot.
It’s Effectively Copy-Paste: Here’s my favorite part: once you have your first Digital Rental Property up, you can literally copy-paste another version of it and find another willing “renter” in a few days. DOUBLING your income doesn’t get much easier than that…
If you wanted to double your income with real estate investing, you would need twice as many properties, or double your profit margins on each property. And I can guarantee you, that’s a lot harder than a few clicks & a phone call.
Make Money Helping Real People: When you’re a Digital Landlord, you’re helping solve REAL problems that people are ASKING for help with:
Small local businesses around the world need one thing: customers. Without them, their business would fall apart. If you can provide those customers, they’re going to be really happy – and they’re going to pay you for it.
You’re helping a struggling mother or father put food on the table for their families, put their kids through college, or simply live life a little bit more comfortably.
Having this type of impact on the world is what will help you sleep soundly at night.
So, the rest is up to you. You could keep looking at other opportunities like Flipping Mobile Homes, which might make you money.
You could keep researching and researching for the next few months (or few years), never making a concrete decision.
OR, you can look deep inside, think about those dreams, hopes, & desires, and make the decision to ACTUALLY make it happen, just like it has for thousands of other students before you.
Making a fortune while actually helping real people that need it.
If this sounds like you, click here to see how it all works.