Wealth-Coaching

An interesting real estate investing proposition is to invest in a mobile home on a good land. Or even okay land. The idea is that the mobile home is more like personal property and the actual land is, well, real estate. A mobile home by itself is not worth a whole lot, but put it on some land, and it becomes more valuable. Likewise, the land’s value increases as a real estate property with a home on it.

Here are some of the advantages that come with purchasing a mobile home with land:

• There is usually less competition. How many people really think about real estate investing in a mobile home? Not many.
• Appreciation is a fact, even for mobile homes. Add an addition to make it more of a “house,” and the property value increases even more. My in-laws did this and the value of their real estate, including the land and the mobile home (with addition), is four times the cost of the whole shebang.
• Maintenance and payments are lower. Your mortgage payments will be lower (making it easier to rent the home to low and middle income families), and the maintenance costs are usually lower.