YouTube monologue by Nichole Briscoe about mobile home investing and whether the market is oversaturated. She demonstrates searching Facebook Marketplace (advises searching for 'manufactured homes' to avoid RVs), reviews example listings (e.g., $47,000; $8,000; $6,000 asking; $12,500), and argues the market is not oversaturated because affordable used homes remain available. She reports that new single-wide 3BR/2BA prices rose from about $70–85k (~two years prior) to roughly $95–120k (or $100–120k) now, moving costs in her North Carolina area increased from $2,800 to $4,000, plywood prices rose from about $17–22 per sheet to $32–42 per sheet, and county permit rules vary but her five counties have short, one-page requirements. Concludes that mobile home investing remains viable (including mobile home parks, individual homes, and mobile-home-on-land strategies).
Questions this video answers
'manufactured homes' (to avoid RVs when searching for mobile homes).
$47,000; $24,000; $8,000 (listed, another noting $6,000 asking); $12,500.
About $70–85,000 (around two years ago) rising to roughly $95–120,000 (or $100–120,000) at time of talk.
From $2,800 previously to $4,000 currently (in her North Carolina area).
Previously about $17–22 per sheet (mid-grade); now about $32–42 per sheet.
Is the mobile home industry dying? Mobile home. Mommy, Mommy. What's up everybody? Listen, I hear so many things about mobile home investing. Can I do it? Is the market over saturated? Is the pricing too high? What about movers? What about supplies? What about the county and the city restrictions? Listen, listen, listen. We gonna get into it today? Matter of fact, come here, let me show you. All right, everybody, so follow me while I show you how we search and find these deals. Now, when you're on Facebook Marketplace, the first thing I would tell you to do is to scroll down right here and click on the marketplace. Now, when you get to the marketplace, do not type in mobile homes, okay? You type in mobile homes, it's going to pull up a lot of RVs. You want to type in manufactured homes. All right, once you type in manufactured homes, here it is. This is what we have. So we have a mobile home right here that's $47,000, three bedroom, two bath. The description is very important to read because it lets you know if it can be moved or it can't be moved. And of course there's always pictures. Now what I would like to do, this mobile home is definitely out of my budget. But what I like to do is, is I like to scroll through and try to look at the pictures to see if it's a mobile home park. Because it may or may not be a mobile home park that I haven't visited. But let's go back to what we were looking for. We want to find mobile homes that are in our budget. So this one is 15,000, but it's for the lot only, so that's not what I'm looking for. Let's scroll down. Okay, 24,000 isn't bad, but I want something, me personally, you know, under that, that ten thousand dollar mark, if at all possible. Here's one right here for $8,000. Okay, three bedroom, two bath. Let's scroll down. The 1998 mobile home, 14 by 76, needs to be moved, have title in hand, needs to be remodeled. I just don't have time to fix it. 6000 is my asking price. So the perfect thing I see here, they have it listed for eight. They already talked themselves down an extra yes. So this should answer your question. Can you purchase mobile homes for cheap? Is the market oversaturated? Absolutely not. You will still be able to find these, find these affordable homes because people still think that mobile homes are going to be too expensive. When I first started investing around two years ago, you could get a three bedroom, two bath, single wide Brand new, around you know, somewhere between 70 to 85,000 doll. Now we all know the market has shifted, inflation has happened. So that same three bedroom, two bath you are looking now more towards the 95 to the $120,000 range. But as you see, mobile homes are still here and they're still affordable. Okay, let's try to find another one. So we found that good one for 8,000. Let's see if we can find another one. 21,000, 23,000. We found another one. $12,500. Okay, that's around our price range. Will not replies. This still available, I understand that located in Danville, two bedroom, two bath, large front and back deck, does not need to be moved. We'll need repairs in the kitchen and floor and other touch ups open to offers. That lets you know right there, hey, come and give me a good offer. It don't have to be 12,000, I may accept it. Now let's look at these pictures. So that is the living room it looks like. Okay, that's the outside of the home. So it looks like it needs some flooring issues, some updating. Overall though, this home could be brought up to living standard. You're gonna have some major floor repairs that look like it's the kitchen and if it's the kitchen, you're gonna, of course you're missing appliances. But this home could possibly be brought up depending on what your budget is. So overall, to answer your question, yes, there are still deals out here that are accessible. Yes, you can still invest in mobile homes. The market is never oversaturated because people will need affordable housing and other people still find traditional real estate more attractive. That's your single family homes, your multi family homes doing Airbnbs, corporate leasing. Mobile home investing though will always be around. Needless to say, pricing has went up. But look at the housing market and what we're currently in. Everything went up, right? So when I first got started two years ago, mobile home investing, you could get a brand new three bedroom, two bath mobile home for around 70 to 80 where now is more between 100 to $120,000. That doesn't mean that you can't invest in mobile homes. You just have to know where to find the used mobile homes, how to pull those leads. Okay, next I always hear, what about the market? Is it oversaturated? Yes, I see you, your students closing deals, but at this point it must be oversaturated because so many people are investing in mobile homes, y'. All. As long as I've been doing this now, which is a little over two years. There are still people that doubt that you can make money with mobile home investing. What is still more attractive are single family homes, multifamily units, you know, duplexes. More people are interested in traditional real estate. It's nothing wrong with that. But I feel like you have to know your market. There is a way to get deals in every market. You just have to be comfortable with going out and attacking those leads. Okay, so when it comes to being oversaturated, my personal opinion, no, mobile home is not oversaturated. There's still a negative perception around mobile homes, mobile home parks, and especially mobile home investing. I get asked all the time, there's no way you're making that much money with those raggedy trailers. Come again, Frank? There's no way. And I'm like, okay, well, listen, that's what you believe. Send me the referral and I'll make sure. My team will make sure you. Then you get your referral fee. Because mobile home investing, y', all, it is. Where is that? Because it is not oversaturated in my professional opinion. Next thing. But what about movers, Nicole? I've heard the cost to move a mobile home has, you know, is high. It has shot up. Y', all. Let me tell you a little story. So my mobile home mover that I use all the time, when we first started together, and up until last year, his price was $2,800. This year, his price is $4,000. So I asked, hey, Frank, what happened? Why'd you go up to $4,000? And his response was simple and concise. You know what he said to me? Because I can and people are still going to pay me because they need me. Boom. It don't. It don't get. It don't get more simple than that. Okay? So yes, the price of my area in North Carolina to move a mobile home is about $4,000. All of my movers prices have increased. It's just the market, y'. All, Everything has increased. But it is still doable. Why? Because I said to my mover, okay, it's $4,000. I'm moving at least four mobile homes a month. I still feel that you and I can work out a deal. So, yes, I do get a deal off of my moves because I move so many mobile homes now. Overall, when it comes to supplies, there has been a surplus in supplies since the beginning of the pandemic. I remember where I used to get plywood for my remodels, for the floor subflooring in my mobile homes. And the price per sheet for mid grade wood was about 17 to 22 dollars a sheet. Now this 32 dollars to 42 dollars a sheet, depending on what store I'm going to to get my plywood. So the cost has went up with supplies. Okay. Another thing I normally hear is, what about the county, what about the cities? How are their restrictions? All you have to do is make a phone call to the county to see what rules are there for putting a mobile home. On moving a mobile home into a park or moving a mobile home onto land, you have to understand each county is different. And. But the five counties that I work out of right now, they're simple, straightforward, to the point. Each county, the five counties that I work out of, they have specific listing of what they want, but it's not longer than one page long. I haven't had a hard time with moving or moving mobile homes into and out of a county or even dealing with county officials. Right. But again, that comes with building relationships, being personable, and making sure you know who's approving your permits. Okay, so in my professional opinion, is the mobile home industry dying? Absolutely not. It is just getting started. Why? Because now people are realizing, oh, oh, I can take my $300,000 and instead of investing it into buying a few, let's say four single family homes, I can buy a whole mobile home park that has 30 lots. That's bringing in a cash flow of $400 per lot. Absolutely not. The mobile home industry is not down in my opinion. More people are catching wind of mobile home investing and investing in different ways, such as mobile home park investments, individual mobile home ownerships and mobile home on land. Which area do you choose to invest in? Until next time, mobile home.
