Is A Manufactured Home a Good Investment?
During another recent conversation with one of our clients we were asked if buying a manufactured home was a good investment because the client had the goal of renting out the home after they purchased it.
Although buying a manufactured home may seem like a smart investment especially since there are so many of these homes available in SoCal the reality is that this type of home purchase being a good investment for you depends on the following criteria.
Will You Own the Land?
A manufactured home may be affordable for most home buyers in Southern California and seem like a smart investment for investors who are looking for properties to rent, but the reality is that if you don’t own the land that the manufactured home sits on you could be in trouble.
Why? It’s simple, if the land owner decides to redevelop the land in the future you could be stuck with the problem of having to move the manufactured home to another location or sell it for far less than what it’s worth.
Will the Park Allow You to Rent Out the Manufactured Home?
Let’s say that you will own the land that the manufactured home will sit on, that’s excellent, but the next question that you need to ask is will the park allow you to rent out the manufactured home?
Although it may seem like a “no-brainer”, if the manufactured home sits in a mobile home park it’s possible that management there may not allow owners to rent out their manufactured homes since some owners fear rentals because they think they hurt property values and the stability of neighborhoods.
If you find that you will indeed own the land, and can rent out the manufactured home, then from an investment standpoint it makes sense to purchase the manufactured home and go through with making that investment.
Contact Fred Sed Realty
At Fred Sed Realty we sell multiple manufactured homes in Southern California each month and we can provide you with a list of manufactured homes for sale regardless if you’re searching for one for investment purposes or for your next primary residence.
To learn more please contact us today by calling (800) 921-9231, connect with us through or website, or on social media.