OfflineWhen investing in mobile homes it is important to note that there are two types of mobile home to invest in:
There are the mobile homes on their own land. These properties are considered real property. This mobile home will increase better.
The other type of mobile home is the mobile home without land. This type of property is considered personal property. The title is recorded just like a vehicle in many states. In fact if you would like to find information on properties like this you may obtain it from your local DMV. These types of properties are well known for depreciation and may depreciate faster if they are put in a bad park.
If you would like the chance to work with me or one of my fellow real estate investor coaches and our advanced training programs, give us a call anytime to see if Dean's Real Estate Success Academy and our customized curriculum is a fit for you. Call us at 1-877-219-1474 ext. 125
Some other "types" that, depending on the state or other level of laws that must be considered, affect the value of a mobile home, are determined by its age. Older homes may not be able to be moved to another location, period. Younger homes may be movable but only if certain work is done on them. Newer ones may be able to be moved merely by applying for a moving permit. Any kind of a move is expensive.
These complications are created in some areas because people "must be protected from themselves," just as certain requirements have to be met in building houses. As you can see, "mobile" isn't always that, and the moving of one may not be as simple as pulling it down the highway. This is why many are sold and stay put in a park, or are sold with the private lot as are houses.
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