Making Money with Mobile Homes

 Considering the economy and a reluctance of banks to lend money to investors I will present to you here a low investment required way to make money in todays market.

Over the last few decades I have bought and sold a few mobile homes, further I have met several men who have and do make tens of thousands of dollars from mobile homes.

Renting is not the only way to make money with used mobile homes. You can also buy, fix up and sell them. You can sell them on a rent to own. You can buy them for cash, then sell them on an owner carry note and make 20% plus annual returns on your money, or you could do a combination of all of these.

Let us look at each of these and run some numbers.

For a reality check, I will keep you up dated on this Blog of one actual mobile home purchase deal now in progress, more about that a later on it.

Go to the article Making Money with Mobile Homes in the article section for the rest of the story.

Update: October 2009, the after pictures have been posted in the Making Money with Mobile Homes article. The cost to buy and remodel the mobile home was $18,000. I will sell the house for $25,000 financing the buyer with 10% down at 14% APR interest for anywhere between 5 and ten years.
If the buyer chooses 60 months term the numbers will look like this: Term of the Loan: 5 years - Loan Amount: $23,000.00 - Monthly mortgage payments: $535.17 - Interest Rate: 14.000% - Total interest paid over the life of the loan: $9,110.19

My rate of return will be about 30% anulized over five years. At first blush you would say the return is 20% , (23,000 financed plus $9,000 interest, less $16,000 cash invested (18K minus 2K down payment), profit $16,000 = 100% profit devide by 5 years = about 20%) But: I have less then the full 16K invested after the first month. I start getting some of that money back each month so the actual return is higher then 20%.

If the buyer chooses 120 months term the numbers will look like this: Term of the Loan: 10 years - Loan Amount: $23,000.00 - Interest Rate: 14.000% - Monthly mortgage payments: $357.11 - Total interest paid over the life of the loan: $19,853.54