New homes


#1

I have been looking into new mobile homes as the repos are getting more and more expensive (and harder to find).

This is what I have found after speaking with several manufacturers:

14’ x 60’ - Cost @ $18,500 (includes transport)

16’ x 76’ - Cost @ $21,200 (includes transport)

You will still need to set up the home (blocks, tie downs, etc.), install the AC condenser, skirting, and decks.

There are several companies that will provide financing (GE Capital, etc) at an interest rate of prime + 1.

I will continue to buy as many good repos (1995 or newer) as possible because I am buying nice singlewides for $10,000 +/- and the home usually come with the block, AC condenser, and decks (sometimes). However I think there will be a time soon that buying new homes will be the only choice.

Corey


#2

HAVE BEEN LOOKING NEW MOBIL HOMES IN THIS PRICE RANGE, NEED THE NAME AND CONTACT # FOR THAT MOBIL HOME MANUFCATURERS

Corey Donaldson wrote:

Post Edited (08-14-06 18:23)


#3

Tony,

You can contact:

Steve Quick

Fleetwood Homes

steve.quick@fleetwood.com

512-255-7743 phone

615-202-0245

Corey


#4

why are repos becoming more expensive and harder to find? i am interested/trying to learn about mh and mhp investment so please forgive me for the ignorance.


#5

Jeff,

Repo homes are “drying” up as there are fewer and fewer repossessed homes. Warren Buffet owns 90% of the mobile home financing market and now can control the repo market as he owns the majority of financing. Instead of wholesaling the homes the banks are bringing the mobile homes back onto dealer lots, refurbing, and retailing for a greater profit margin.

If you are new to the mobile home park industry and serious about making money and minimizing costly mistakes, I would look at investing in the mobile home bootcamp or home study course (Huge Profits in mobile homes/mobile home parks).

Corey


#6

Corey,

New to mobile home/mobile home park. Are the new home prices same across the US or would it depend on city & state?

thanks,

Vickie


#7

I am finding them pretty consistent. The transportation costs could differ depending how close the manufacturing plant is located to the MH park.


#8

How much are these new homes affecting cashflow as repo’s are harder to find? Is it harder to find new buyers (as home prices are higher) and finance them?