How To Buy Your First Mobile Home Park

The first place you should look is online.

How to buy your first mobile home park. Where to look for a mobile home in a park. Buying your first home is considered one of the biggest milestones in life as well as finances. I paid 400 000 for it and put only 10 000 down with the seller carrying a 390 000 note with no recourse. You can buy in a park or buy land to put your home on. Or if you re buying a brand new mobile home it can go wherever you want.

You might assume that mobile homes are always in mobile home parks but that s not the case. To buy a mobile home start by finding a piece of land to put your home on making sure that there is enough flat ground to accommodate it. You can only buy directly from a manufacturer if you have your own land. There is simply no better way for you to get acquainted with the market and see what s out there at what price. Most first time home buyers only consider site built single family homes but have you considered buying a mobile home or manufactured home.

You will need to buy the park with seller financing. This is such a great site to put sellers in touch with buyers. I listed my mobile home park at a reasonable price and have had almost 20 calls on it and sold it to the first caller after only having it listed for a few days. Some parks will already have new homes available for you to buy. Features of the modern mobile home mobile homes also known as manufactured homes are built in a factory and placed on a trailer chassis to allow them to be moved.

Before you decide to buy a mobile home weigh the pros and cons to make certain your decision is consistent with both your financial and housing goals. If you have 10 000 you could buy a mobile home park just as i did in 1997 when i bought my very first park just south of downtown dallas. Additionally look up local zoning ordinances at the county tax assessor s office to determine if you can put a mobile home on the property. It s also possible to buy a mobile home along with the land it sits on which could be a big plot of land in the woods. Having a look at mobile home parks in your area and calling them directly to inquire about homes for sale is.

You can have hundreds or thousands of listings at the click of a button from anywhere in the u s. Mobile and manufactured homes while not as popular. Try and get a note length of at least 7 years so that you have plenty of time to refinance it before the loan comes due. As you prepare here are the steps to follow as you purchase your first home.