One of the best ways to invest in a mobile home is in fact living in one. A mobile home is considerably cheap, with a second hand one costing about $2,000 to $5,000 and a completely new one costing anything between, $8500 to $12,000 and larger ones ranging from $15,000 to $20,000. The land rent amounts to anything between, $150 to $500, depending upon the location of the mobile home park. Now, living in one is a great investment as it saves money, but there are a lot more ways to invest.
2. Mobile Home Park
This is the most comprehensive set up that you can provide. Buy a barren piece of land, develop it a little bit on your own. Then you can easily get a water and electricity connection and build a sewer system on your own. This way your trailer/mobile home park is ready. You can of course advertise about the park and keep on developing it further more, by planting lush green trees, providing free Internet facilities, etc. Mobile home owners would be able to use allocated spaces along with electricity and water connections. The pros of such a system is that you can easily finance it with the help of loan such as a mobile home loan and a relatively low down payment. You can obtain a mortgage or secured loan to buy and develop the land.
3. Renting out Mobile Homes
Another great way is to have a tie up with a person who already owns some land or has a completely developed trailer/mobile home park. You can simply buy mobile homes and rent them out either directly to the park owner or to the people who want such a home.
4. Partnership and Enterprise
Partnering with a person in order to open up either a trailer/mobile home park or own mobile homes, is another great option. In fact with more people in the action, the loan amount that you get would be much bigger. A bigger loan amount means more mobile homes. In fact, in such a situation you can try and get as many mobile homes as possible, or you can even rent them or take them on lease. Now, in such a scenario, it’s better to get old mobile homes and then refurbish them, it costs less on the whole. The last option that you can use is being a dormant or sleeping partner, that is just pool in the money and enjoy the returns.