5 Steps To Buying Mobile Home Investments In Orange County

Considering buying mobile home investments? Here are the steps to follow:

Step 1. Why Mobile Homes

Before buying mobile homes in Orange County, CA, ask yourself: what is my goal with mobile home investments? Will I be reselling the mobile home after my purchase? Am I looking to renovate this mobile home? Am I looking for mobile home investments in a retirement community? Am I looking for mobile homes on larger lots? These answers will guide you to finding your ideal purchase.

Step 2. Locate the Mobile Home

There are a handful of ways to find mobile homes to buy. First of all, you can call us at 949-625-4533 and we can help you find what you are looking for in Orange County. You can work with a Realtor who has access to the multiple listing service, or MLS. You can also find properties for sale by owner on public posting boards online. There are also public auctions held by cities and counties in CA that frequently offer mobile homes for sale, usually due to unpaid taxes. Working with a real estate professional might be ideal if you are new to buying mobile home investments, they know the tips and tricks of the trade. 

Step 3. Evaluate the Mobile Home

Real estate professionals have easy access to most sources of information for research on mobile homes. It does not hurt to do your own research, just to double-check. 

Search the county records for the deed and ownership history. You can usually only do this on mobile homes that do not have lot rent. Make sure to look up the property taxes, if there are any open certificates and you purchase the property, the owner might be able to take the property back from you before the waiting period is over, typically 4 years. Are there any deed or usage restrictions or building requirements?

Review the physical characteristics of the property, will it be large enough for your plans? Is there an excessive amount of renovation that needs to be done? Is it on a canal? Does it have direct access to the utility system? Are there plans for utility expansion? Check into the plat maps and any surveys available to make sure there are not any surprise easements you are unaware of.

Step 4. Finance Your Mobile Home

You’ve found the mobile home investment you want to buy. Now it’s time to fund the closing! How are you going to do that? Do you plan to pay cash, or do you need a loan? It is a lot more difficult to buy a mobile home with a loan from a bank than it is to buy a traditional building, residential or commercial. There are only a handful of banks that will loan on land with a mobile home, and they might require a much larger down payment. Another option would be to form a partnership to invest in mobile homes where you form an agreement with one or more other investors to pool your funds to buy a larger portfolio of mobile homes with larger returns!

Step 5. Hold Your Mobile Homeome

Now that you’ve purchased your mobile home investment, what is your holding plan? Are you going to flip it right away, or will you hold it for a few years? Keep in mind, the faster you make a profit, the larger tax you may have to pay. The longer you hold it, the less capital gain tax you will have to pay. Keep in mind there are usually owner’s association dues and lot rent, and if the mobile home comes with land, there are annual taxes.

Give H&M Realty Group a call today at 949-625-4533 or send us a message to discuss buying mobile home investments in Orange County, CA.

Joe

Broker/Realtor/Investor/Mentor (41 years experience) Specialties: Buyer's Agent, Listing Agent, Foreclosure, Short-Sale, Property Management, Landlord I'm a Full Time Real Estate Professional, house flipper and mentor to many of my clients. I am here to help you get top dollar for your home or get you the best price for a home that you are going to live in. I have over 40 years of real estate experience for you to draw on and actively list and sell over 20 homes a year. I have sold over 600+ homes in the last ten years alone. I am a very skillful negotiator and will work diligently to help you realize the best possible price when buying or selling your home. With my Exclusive Home Acquisition & Sales System, I can find the Right Home for You! I have access to homes no other Realtor will show you. I can show you how to save an average of $10,000.00 on the purchase price. We will find a home that fits your needs, in a neighborhood that suits your style. If you are selling your home then I can bring all the professionals to you. I always include professional photos in ALL my listings. I have contractors standing by to assist with those upgrades if needed. I can also quickly get you ALL CASH offers for your home if you desire. My marketing surpasses all other agents. It begins with extensive internet advertising to hundreds of websites throughout the world. I do direct mail marketing for you home and also knock on doors in your neighborhood when I am holding an open house. I hold you home open to expose it to as many buyers as possible. My Exclusive program is designed to sell your home for Top Dollar in Any market. I am an experienced flipper here in Orange County and therefore can offer you my over 40 years of real estate experience. The information is available to you at no charge! If you like what you see, please call me and setup Your Free Consultation.

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