Was wondering what others think of manufactured homes as source for finding reasonably priced houses that can then be rented out.
The type that I’ve been looking at are on their own lot…not in a park.
It seems to me that they are often times listed at prices which are 40 to 60% less than what a more traditional home with approx same square footage would list for.
Also concerned about obtainable financing for these…and their sale factor in the future.
Thanks for your consideration.
Financing is difficult but can be done. To qualify for a conforming loan the home must meet a few guidelines.
The most important factor is that the manufactured home is on it’s own property.
It must have it’s wheels and tongue removed and be on a permanent foundation.
Depending upon the location and other factor’s the value can appreciate like a stick built home, if it meets the above criteria.
However, when they are not attached to property they depreciate, in most cases, like a vehicle.
I’ll put this in the “file”.
On top of what Mark has noted, here in Louisiana, you also have to sign legal paperwork declaring it a permanent structure…