My work is ‘attracting’ a lot of manufactured home owners and drawing me into an area where the majority of homes are manufactured.
I am told by some that these homes do not appreciate, and don’t want to waste my time if this is a path of no (or low) return…
My ‘mobile’ home reading has brought up information on what I think of as ‘mobile’ homes (no steering wheel, no… but ‘manufactured’ homes are like ‘normal’ houses… but moved in and possible to move out…)
I haven’t managed to find a source of information on investing in MANUFACTURED homes…
Can anyone suggest reading materials? experts? personal experience? (if it makes a difference, I live in Arizona)
SO MUCH THANKS, IN ADVANCE, FOR ANY INPUT!
Esentially, in the investing arena, 'manufactured home", “mobile home”, and “trailer” are all interchanged quite regularly. All are made in a factory and trucked to a site where they are set up. There are quite a few good sources of information on this investment area. For instance, Lonnie Scruggs has 2 good books, “Deals on Wheels” and “Making Money with Mobile Homes”. Other notable authors are Dyches Boddiford and Ernest Tew, both of whom get into investing in entire mobile home parks as well.
A lot of lenders treat all “manufactured” homes as the same type of structure. In reality "manufactured covers two basic types of structures.
- Trailers/DW’s - these are title in most states by the Div of Motor vehicles (or similar agency)
- Modulars. True modulars are cosidered as sfr’s by most lenders.
There are 2 types of modulars “on” and “off” frame. On frame mods are treated a lot like double-wides by most lenders.
I worked in sub-prime manufactered housing lening as a broker for almost ten years.
The home [structure] always depreciates. No matter if it is a MH or a site built.
With real estate the land appreciates and offsets the loss of the structure [MH or site built].
When a MH is in a “rental park” the homeowner doesn’t own the land so there is nothing to offset the loss. 
I have had very good results developing and selling land (mobile) home packages. Look to the land for consistent appreciation. Buy your mobile home right and dont worry about the possibility of any loss in $$.
good luck, Ed
I have made money with all three of these homes and could care less as long as the numbers work out. As mentioned above, Lonnie Scruggs is the guy to learn how to make $$ with mobiles. My wife and I have made $1000’s and we still carry a note on six that we sold on terms. Manufactured homes still on a frame (will also still have a skirt around them) are treated like mobiles when it comes to financing: i.e. they will need special lenders that do that sort of thing. Manufactured homes on a fixed foundation (slab, crwl space or basement) are treated as regular homes to most banks. Hence selling them will be easier. Many of the newer ones will have dry wall and one can hardly tell the difference from it and a stick built home.
Like I said, we’ve made money with all of them. Just make sure you buy them right–whichever you persue. Sorry but I can’t help with particular reading material as to the modulars.