Mobile Home

[AgHntr10]

Somebody talk me off the ledge....

My wife and I have been looking for land to buy and build another house on to live in then sell in 5-6 years to upgrade. Now we came across some land that we would like to build a "forever home" as my wife calls it but if we buy the land we won't be ready to build that type house for about 5 more years.

What I am thinking about right now is buying a basic singlewide for ~40K brand new and living in it for 5 years, paying it off then moving it to a lot and using it for rent property.

I am I completely crazy for trying to look at a mobile home as an investment when I know they are depreciating assets?

[ladrones]

Five years from now you will completely regret the mobile home.

[ColinR]

I like the plan except the buying the mobile new. Pick up a used one for 10 to 15k and then sell it when you build your house.

[BW96]

Only way it would make sense is buy used and then owner finance. Basically renting because very rarely do they ever pay it off. But you don't have to worry with the maintenance or the tenants. At the same time you can pick who you sell to. If they don't look like they will take care of the place, tell them about the sinkhole. Lol

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[BW96]

Also, for a bit more than 40k build a shop and live in it. Then you'll have the shop for later.

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[Rick]

I like the plan except the buying the mobile new. Pick up a used one for 10 to 15k and then sell it when you build your house.

This

I would definitely not buy a new mobile home, let someone else take the depreciation hit. You could either sell it for close to what you paid for it in 5-6 years or use it for rental property as you stated

[bakin7005]

Also, for a bit more than 40k build a shop and live in it. Then you'll have the shop for later.

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Absolutely this^^^^

[Antlers86]

Before I ever bought a mobile home I would go with this. Finish out inside with a bathroom and kitchen. Open area for bed and living. Later after you build dream home you will have a nice mancave/shop.

Includes 4" slab, moisture barrier and electric stub. Many designs to choose from.

[Antlers86]

Probably spray insulation, indoor siding, electrical and everything you need for another $10k-$15k.

$20k-$25k complete. More work but way better. Mobile home won't be worth $5k in 5 yrs and you would throw away $35k. Shop would hold it's value plus!

[rjtkdplus]

Repoed mobile home can be a great buy as well. Definitely wouldn't go with new if you're going to sell.

[MarkV]

Don't buy new. Like others have said. But your option is better than what we are about to do. I'm about to sell my house and move in with my mother in law.

We need the equity in our house for down payment on the new house.

[eastxhunter]

Barndoooooooooo

[kumathebear]

Build a barndominium, similar to what Antlers is describing. Easily converted to a full time shop or man cave when you get ready to build the main home....or, add on to it!

Much better investment than a mobile and more functional. My old land company I retired from advertised land and barndominium's routinely and it works. A mobile is worse than buying a new truck, they depreciated big time day one.

[Leemo]

Don't buy a mobile home for 40k
Get a diesel truck for 65k instead

[Guerrero88]

^^^
This