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Here are 5 Ways to Make Money Through Mobile Home Investing:

How can you make money through mobile home investing? The short answer is: There are plenty of ways.

Though, it will depend on your comfort level, time, money, skills, experience and overall goals.

To start out you need to plan exactly what you need to do.
Once you know your goals, then you can decide how you would like to invest in mobile homes.

Here are 5 Ways to Make Money Through Mobile Home Investing:

1. Be the Lender – Buy, Sell and Finance.

Basically, you buy a mobile home and sell it offering seller financing. The buyer gives you a small down payment and then makes payments to you for the duration of what is owed.

This is a good way of mobile homes investing if you’re looking for consistent cash flow and don’t necessarily want to deal with the issues of being a landlord.

In this scenario, the buyer is responsible for all repairs on the home. All you have to do is collect payments.

2. . Buy and Sell Retail.

If you’re looking to make some money and don’t want to hold, you can buy and sell retail. The advantage of mobile homes is that they are less costly than regular single family homes.

Remember, if you are selling retail you need to make sure you know your market well before you buy so you’ll know what you can sell the home for.

As in any type of retail venture, figure in a conservative amount for repair and holding costs.

3. Be a Landlord – Buy and Hold.

Again, The good thing about mobile homes is that they are less costly than regular homes which means less costs for things such as taxes, insurance, etc.

If expenses are lower, it will leave more cash flow on the table.

Being a landlord will require access to cash to purchase the mobile homes as well as the usual cash reserves needed as a landlord.

Buying a mobile home and renting it out is another way to make money investing in mobile homes.

Some investors simply want to continue being landlords because they don’t want to sell their properties and just want a continuous source of cash flow.

4. Buy and Wholesale – to Other Investors.

If you’re looking to build up some cash and want to sell fast, you can always buy and wholesale to other investors.

If you are planning to wholesale, be sure you have a buyers list and criteria from your buyers of what they are looking for, how much they want to spend and what areas they will buy.

Also, you will need to put in the time to research and learn your market so you know what you can as well as what your investors can sell for.

5. Private Money – Be the Lender to Investors.

If you have money but don’t necessarily have the time to look for deals and want to grow the money you have, you can lend money to other investors.

Make it a win/win situation for everyone.
Since mobile homes are less costly than single family homes, it will require a significantly less amount of cash.

As the lender, it will require less time and is hands off – you just collect payments. If you are going to be lending money, be sure to have a criteria made up of exactly how much you are willing to lend, the rate of return you would like, etc.

Also, make sure you are comfortable working with the investor(s) you choose to work with. Interview them, spend time with them and learn more about them and their goals. Remember, the investor(s) you are working with need to make money too.

BONUS-Looking for Deals for Other Investors-Bird Dogging !

Being a bird dog and looking for deals for other investors is a good way to get started and learn hands on with the least amount of risk. It does not take a lot of cash though this will require a significant amount of time and commitment on your part.

Also, you will need to locate other investors who are interested in mobile home investing- build a rapport with them and get their investing criteria. Compensation will depend on the arrangements you have with the investor(s).-

Be sure to check laws in your area regarding this issue. You will need to put in the time to research your market and create a marketing plan to find deals.

Remember, you are simply trying to learn and get the experience here without taking all the risk. Once you have the knowledge and experience, it will help you to push forward with your mobile home investing goals.

As you can see, there are many ways to make money by mobile home investing. Time, money, skills, and experience are all factors to consider. Overall, always keep your goals in mind.
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New Jersey Real Estate In Perspective is a blog by Dwayne Randolph.

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Dwayne Randolph is the Founder of CREIV Properties, LLC, a real estate solutions company. If you have a property you need to sell fast. We buy houses in NJ and nationwide.

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