Mobile homes are one of the most popular investment property styles for a variety of investors. This article describes this real estate type, its benefits, and why a landlord would sell their property.
- What are Mobile Homes?
- What is the difference between a mobile home, modular home, and manufactured home?
- What Are the Benefits of Owning Mobile Homes?
- Reasons Why A Landlord Would Sell Their Mobile Home?
- SELL YOUR MOBILE HOME FAST
- The Types of Mobile Homes We Buy
- Where Do You Buy Mobile Homes?
- Get Your Risk-Free Offer Now!
What are Mobile Homes?
Mobile homes (also known as trailer or caravan) are a prefabricated residential structure that sit on its own lot and is for one family. These homes are built in a factory and are then transported to a site (through a trailer or towed). This type of real estate can be used as residential homes or as a vacation home. They can be placed in one area permanently or semi-permanently, and can be moved.
What is the difference between a mobile home, modular home, and manufactured home?
Mobile homes refer to homes built before 1976, prior to the passing of the National Manufactured Housing Construction and Safety Standards Act. Before the HUD code was implemented, these homes were moved without looking into building standards. The National Manufactured Housing Construction and Safety Standards Act focused on quality and created production safety regulations. As a result, mobile homes built after 1976 are manufactured homes that are built with higher standards. However, most people refer to both types as “mobile homes.”
Manufactured homes are built in one piece whereas modular homes are built in home building facilities in various pieces. Once all the pieces are put together, modular homes look similar to traditional residential homes. Like manufactured homes, modular homes must also adhere to local and state codes, depending on where the home is located.
What Are the Benefits of Owning Mobile Homes?
There are many tax benefits involved with owning a mobile home as an investment property. When you own this type of real estate as an investment, you can deduct many expenses, including tenant screenings, repairs, marketing and advertising, insurance, and any maintenance fees. Investors can also benefit from depreciation on their property, which will give you a tax break on your property’s rental income.
Reasons Why A Landlord Would Sell Their Mobile Home?
Bad tenants can cause landlords many headaches and thousands of dollars in legal fees and repairs.
Foundation issues, electrical, HVAC, plumbing, flooring, appliances, and more. Repairs can easily wipe out your investment profitability.
Tired of Being a Landlord
Many landlords want to retire and focus on other interests and hobbies without having to worry about repairs, bills, and tenants.
There are many tax benefits associated with renting out a mobile home. You can claim depreciation as soon as your home is available for rent, even if you don’t have any tenants living in there yet. You can also deduct repairs, maintenance, equipment, legal and professional fees, utilities, office space, travel costs, mortgage loan interest, insurance premiums, and property taxes.
The Types of Mobile Homes We Buy
We typically look at mobile homes that are at least 15 years old and in need of renovations, repairs, and overall TLC! It doesn’t matter the situation, or the condition your property is in, contact us for a free cash offer!
Where Do You Buy Mobile Homes?
We buy mobile homes all throughout Texas! Simply fill out the form below to get started.