For a new person trying to go into mobile houses investment, what advice would you give to me? Do you consider it a profitable investment?
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For a new person trying to go into mobile houses investment, what advice would you give to me? Do you consider it a profitable investment?
Generally a mobile house is a poor investment. You are purchasing a quickly depreciating asset and along with the mobile house losing value many times those that purchase a mobile home pay lot rent to live in a mobile home park. Also, they are often financed as well. So you have a depreciating asset, interest on the loan and rent payments on the land which will go up over time. The only exceptions I have seen is where someone purchases a mobile or modular home and put it on their own land. In addition, they put the mobile house on a permanent foundation. Still all things considered, I suggest going with a stick built traditional home for a much better return on investment.
Mobile houses are some of the most inexpensive housing. A mobile home is not considered a long term permanent structure. They are designed for quick construction using techniques not possible with stick built homes. These techniques and materials require different skills if maintainence/repairs are needed. They are designed for some movement of the house while transporting that a stick built house isn’t. They are easy to move if you think moving your house is a future concern.