What do you think about these houses? I spoke with someone that wants to work with me on putting one up. Please share the pro’s and con’s on these houses.
Thanks
auggflo
If they are truly “modular” homes placed on a slab or basement then obtaining financing will be asy for both you and the end user. They obviously take less time to construct than stick built. However, it will also depend on where you are putting them. If you are putting them in residential areas with stick built homes, they will not carry as much value as they will in an area with similarly built homes.
A modular home is built to residential code, off-site, and is assembled on site. It should appraise the same as a comparable stick built house because it is the same in the end.
todays modular homes look just like CBS and stick homes if done with a rebuttal builder. I am building 6 modular homes, 2 in CapeCoral Fl and 4 in springhill Fl thru IHA homes and you can not tell the difference. Built on a concrete slab and meets all of florida’s strict hurricane codes as it must. These homes are actually appraising for 330-430K and costing me between 270-350K to have built with preconstruction loans. Plus start to finish with permits are 4-6months…
Thats what I want to buy land for, modular homes. I would like to buy in the Poincianna/Kissimmee area.
2 good area’s in fl for building…alot of action in orlando/kissimmee area…but if you have the downpayment money i would suggest looking into many of the condo conversions in orlando/kissimmee area as well… with 10% down you can have postive cashflow of about $100 a month but strong 15%+ appreciation with professional mgmt company taking care of the tennants for you…sell in 12-24months for a nice profit…plus many will pay your HOA/taxes for 1st yr…
Where would i find some info on the condo’s?
Thanks
auggflo