Cost saving ideas when rehabbing homes

We’re looking at things like buying entire rolls of carpet and such to save money, buying bulk skirting, etc.

What do you all use on the interior, any alternatives to paneling? Can that be bought in bulk?

Any other ideas we can all discuss?

I use regular drywall on all my interiors. Gives high quality results and is easy to repair.

Coach62, when we purchased our 2nd Mobile Home Park, we ‘inherited’ some older, smaller 2 bedroom Mobile Homes.

These Mobile Homes had Tenants who were renting them at the time of the Real Estate Closing.

Once the Tenants moved out we selected to renovate the Mobile Homes.

We are blessed to have a Licensed Mobile Home Contractor who specializes in Mobile Homes.

We have renovated and re-rented several of these Mobile Homes.

Below are the items that we have done on the interiors:

  • Paneling: We replace any bad paneling. It is
  • Paint: We then paint the entire interior using white paint on the walls, trim and ceilings. If the subfloor is stained, we will paint the subfloor with off color paints.
  • Light Fixtures: We replace all the light fixture. Lowes has great prices on new light fixtures.
  • Flooring: We replace all the flooring with new, ‘wood look’ vinyl. Now some of the floors that were not in as nice shape were replaced with carpet as the vinyl tends to show more variation in the subfloors
  • Kitchen Cabinets: We typically paint the kitchen cabinets. However, in one particular Mobile Home we replaced the cabinets.
  • Bathroom: We will replace toilets and some tubs/tub surrounds and sinks.
  • Windows: We install new, white vinyl blinds because they are very visible on the outside of the Mobile Home.

Below are the items that we have done on the exteriors:

  • New, Wooden Stairs: Install new Stairs on all exterior doors
  • New, White, Vinyl Underskirting: Install new, white, vinyl underskirting on the exterior of the Mobile Home
  • Power Wash & Paint Exterior: Power wash and paint exterior of Mobile Home
  • Shutters: Install new shutters on the end of Mobile Homes and on the front of visible Mobile Homes

We buy a lot of our items from Lowes. There is no ‘bulk’ discount per say, but they do have nice items for great prices.

In addition we use a local flooring company who has done flooring for multiple Mobile Home. Again, there is no ‘bulk’ discount per say, but they have nice flooring for great prices.

We wish you the very best!

Thanks to both of you.

Kristin, roughly how much do you spend (average) per home that you do the above to, and what is the average that you sell them for afterwards?

I’m looking at spending $3 - 4,000 per home, then selling for $6000 - $6500, $7500 for the larger, nicer homes.

I have nothing in the homes, I gave them no value at all. I’ll sell them on a 75% rent credit, I’ll be happy if I just break even. If I make a little that’s just bonus.

Let’s face it, as long as I own 69 older homes I’ll have a full time maintenance person on staff, as long as I cover his salary plus misc. repairs.

Demand is really strong, I’ll have no problems selling them for $575 - $600 a month incl $350 lot fee first year, $375 second year.

Coach62, we probably spend around $6,000 - $8,000 for the interior renovations.

For the exterior renovations we spend around $2,200

  • Stairs: $800 - 2 Sets Of New, Wooden Stairs
  • Underskirting: $800 - New, White, Vinyl Underskirting
  • Power Wash & Paint: $600

In order for us to sell multiple Mobile Homes we need a Dealer’s License (which we are in the process of completing).

Thus, currently we are renting out our Mobile Homes.

For us there is a big delta between the Lot Rent and the Mobile Home Rents. In addition we have a great Licensed Mobile Home Contractor.

Thus, for us renting is profitable.

However, once we get our Dealer’s License we will probably sell the Mobile Homes for what we have in them.

We desire to have homeowners in our MHP that have a ‘financial stake’ in their home, so ultimately the goal is all TOHs.

However, all TOHs is a process.

We wish you the very best.