Mobile homes in good condition, generally fetch the same monthly income, as any other local residential rentals that are similar in size. Yet, a mobile home bank repo requires a fraction of the investment required other rental properties. Mobile home repos can be “flipped”, often, with a higher profit than any other type of residence. Factory built, using templates means that spacing dimensions are precise and exact. Due to assembly line construction, mobile homes are built to standards that make them generally, easy and less expensive to renovate then homes built on a remote site, one at a time.
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Buying a new mobile home at this pint in the economic cycle is silly. There are thousands of late model, foreclosed mobile homes available across the country. The bankers that are holding these repo mobile homes are not very happy to own them. A high volume of mobile home repos is a poor reflection on management’s judgement. So lenders with mobile home repos are offering prices and loan terms that are better than in any other sector of the housing market. Now is a great time to purchase, All the experts agree that interest rates will be going up in the not too distant future. There are loads of places online where you can find great deals, Most web sites charge a fee to browse the foreclosed inventory. I like www.mobilehomerepoman.com because you can view the homes at absolutely no cost. If you request they will hook you up with a local mobile home professional that will help you with any needed transportation, installation, state registration and title work, permits, and utility hook ups. Surprisingly, you can buy a lot more home for a lot less money when you invest in mobile home repos