Wow, let me tell you about the incredible world of mobile homes! Can you believe the jaw-dropping prices these beauties can reach? We're talking about upwards of $300k here! Yes, you read that right - these mobile homes can rival high-end luxury properties. While that may sound like a stretch for some, it's not the craziest idea if you've got a hefty bank account or if it's your retirement dream and you're ready to sell your current home.
But guess what? You can actually snag one of these for a steal! RVs lose their value pretty quickly, so picking up a used one, especially for long-term living, is a fantastic option. You can even give it a luxurious makeover without breaking the bank. It helps if you're a bit handy, but don't worry if you're not - there are always ways around that. Just remember, for RVs, have a mechanic friend or professional check out the motor. And for fixed mobile homes, steer clear of those with damaged frames, mold, or water issues. Stick to the same inspection rules you would for a traditional house.
These tips apply to both mobile home RVs and fixed mobile homes, so you're covered no matter what you're looking for. Now, let's dive into this exciting topic!
Online Shopping: But Smarter
The most obvious, yet plain method we should cover first is just being a smart and patient shopper. Keep your eye on Craigslist, Auto Trader for Mobile Homes, google search used trailers and much more. You would want to cut out a dealer and do for sale by owner only but have a mechanic with you. Be patient and low ball, there are many people who are sick and tired of storing it at $200+ a month RV. Some just want it off their hands and the plans for that cross country trip just aren't going to happen. You may get a ton of "no!" but you will get that one "yes" and have a great story to tell later. We are talking 50% to 60% off retail value at times. It may take months and lots of driving but some people don't need the money and are really tired of having it.
The RV Community - Bulletin Boards
Visit a couple storage places near you, it is best to go in person for this. Some of these places may have for sale bulletin boards, or maybe the manager had some small talk with an owner interested in selling. Tell the manager you are a buyer or at least interested in purchasing one. Be very clear you aren't offering full price, but you are willing to take it off someones hands. A lot of the times there will be trailers that are unpaid for months and may end up in auction. Even ones with flat tires and an owner that doesn't know what to do. You can ask the manager if by chance this owner would sell his. Some people have even gotten airstreams this way for almost nothing at all.
RV Liquidations
There are people or companies who do very large purchase deals. Typically they focus on mobile home tax sales which we cover later. Overall, they can buy 30-40 of these in one day, usually fixed mobile homes. They buy them for almost nothing, just by paying of debt. Some of these may be abandoned or you might have to evict. It is not as hard as you think to find one of these guys. If you are good with google you should be able to land a good liquidators email within a few days. They prefer to sell these very fast, so the price is often way below value.
Land Buyer - They Need These RVs Off Their Land
Many land buyers who you can find all over the various land selling websites. Will at one point buy land with a trailer on it. These are people who have moved on, abandoned it and the land buyer needs it off the land. All they are interested in is the land and the RV there is a burden. Often times these are an RV that don't have tires anymore and they were used as a home. But it actually might be in decent condition if you can tow it and fix the inside. Land buyers often don't know the condition of it and live in another state. Although it will most likely be a fixer upper. One thing to note is title. Some land buyers have clear rights to the trailer after the sale, while others might require a legal process that you may have to do.
Maximize Your Savings with RV Tax Sales
Tax sales require some knowledge to navigate, so please don't just google tax sales and bid right away. It's probably best to buy a class online and get the basics down. Overall, they have actual exclusive mobile home tax sales at times. It is very important to pick the right state for this and know the rules of that state. In the right tax sale you should be able to get clear rights of ownership just by paying off the unpaid debt or loan. Also, at times you can land a very good quality mobile homes for almost nothing. But know what you are doing before starting this process, some of these have liens you will not be happy with. A lot of these are fixed mobile homes, auctions for RV's do happen by the county but also by the Sherifs office.
Flexible Financing Options for RVs
This method will allow you to get a good mobile home but make low payments. So essentially you make payments of $200 or more and you have a home to live in. While this method can be pricier, it gets started with a mobile home for almost nothing. If you own some land outright, you can start living for $200 a month.
A dealer can work as well as you will just take an auto loan in a way. However, often times you can get a better deal from owner financing. Make sure if you remodel anything you have good contracts and keep up on payments.
Some will take zero to little down, but also be careful fixing it up. If there is any strange balloons or things in the contract. You may be evicted for payment issues and not compensated for the upgrades. Understand that most of the time you may need to fix up the trailer or fixed mobile a bit. Minor things like outdated appliances, furniture, floors are easy to fix. But things like the motor, hydraulics and overall body of it, you should try to make sure are in great shape. Restoring or remodeling mobile homes and RV's is not only exciting, but also creative. Some people make a living doing this, buying on the cheap and making the inside attractive. You can even flip these. It's a good way to get started in flipping homes for much less. Then move up to fixed homes for more profit when you know the process well. Good Luck in your search!
