Move a Manufactured Home - Things to Remember

I wrote an article recently regarding Manufactured homes being an excellent investment in the current economic climate. I thought I would update past investors and new property investors of some of the latest findings I have discovered with regard to the purchase of manufactured homes during 2010.

My previous investment advisory or more a little friendly tip has not really become out dated as such, but rather the markets have changed slightly, and so have some costs of haulage in the case of movers. Manufactured homes are still one of the most sought after properties in the property market, this is both for investors and Estate Agents, who recognize the excellent potential for quick sales and great properties to become 'fixers'.

There is no short supply of manufactured homes, although in some states there might be a tendency to be very few, in the mean there is a great range across all the United States to choose from. The trick is to figure out where they are located, the closeness to amenities, market potential locally, and even position in regard to nature in some cases (for our wonderful older generation).

The price of a manufactured home has actually increased slightly during 2010 in some states, although in some they have either stayed the same as in 2008/9, or lowered slightly.

Some great points to make when considering investing to maybe profiteer from a manufactured home are:

• Manufactured Home Park - Is it located on one, is it moveable or is it desirable for families or older people
who wish to retire. You will also need to look at the parks ground rent and H.O.A.

• Fixers - You can acquire a fixer for quite a considerable markdown in price depending on the property age and location. Many Pre-1989 models can be found still in great condition, but at a low price. With a little care and attention you can make a quick several thousand in profits, or even move the property onto its own land.

• Movers - As touched on in the last part, if you are able to purchase a Manufactured home at a snip, and I mean 2-3 bed, 1-2 bathrooms and move it to a parcel of land, you could be able to double maybe even treble your investment. It is not hard to see where a healthy profit can be made if you are investing, in the main it is about researching your property, the areas, and cost of moving the home. I can tell you quite often the closer the move, the cheaper it will be to haul.

• Single and Double Wide - There is a market for both, depending on its size a single wide can have as much saleable value as a double wide manufactured home. We have to factor in that even though it is a bit coy to mention someone else's misfortune, there are people losing their homes to foreclosure, or selling up their property very cheaply, it is this market you really will be offering your property out to. You will notice it is also a great way for first time buyers to get a foot on the ladder.

• Park Closures - One sure fire way of gaining a good cheap manufactured home is through manufactured home park closures. If you do your research you can find these parks, often owners will be considering taking a hit on house value, although don't expect to be met with too much sympathy with very low offers. Be genuine and you could get a great deal and a very quick time, this way you help the property owner in a crisis and help yourself with a great mover for your plot of land.

Remember not to jump straight in at the first property you see, you might think that a 3 bed Skyline from the 1970's is a snip at $5000, but is it moveable, and is it going to be cheap to renovate?

You have to also look at the laws and regulations in regard to a property coming up to scratch with more modern building codes. Sometimes it is a simple fix that is not too costly, especially if you are a builder or electrician. But if the building cannot be moved, or it simply will not make any profit after renovation, you are probably best to leave it to someone who might benefit from a good roof over their head.

All in all doing your research is a big part player, I know it is obvious to some of you reading this article, but for someone new to manufactured home investment it can be all too easy to jump at the first find.

2010 into 2011 will be a great year for manufactured home investment; but with the economy looking like it is about to stabilize more, and maybe even make a move upwards, now is probably the time to consider making your move for manufactured homes.