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Estimated Installation Cost: NOTE This is a price guide only. Actual costs will vary depending on specific site conditions and by region

The estimated installation cost includes the following*:

  • Setting the home that you selected onto your foundation or building pad (This assumes normal lot conditions and does not include any extra costs to maneuver the home to your building site or any crane rental fees)
  • Installing blocking or piers under the home and levelling the home with shims
  • Anchoring the home to your foundation with tornado and/or hurricane proof anchors
  • Insulating the marriage line and bolting the various sections of your home together at both the floor and roof lines (if there is more than one section)
  • Finishing roof venting and ridge cap shingles
  • Installing siding on the ends with house wrap (if you selected the house wrap option with your home order)
  • Installing soffit and fascia on the ends of the home for the complete exterior finish
  • Estimates to hook up to existing utilities (you will have to add the cost of a new septic, well, electrical service, and also driveway and etc as needed on your site)
  • Estimate to complete the inside trim and finish work

Notes:

Add for concrete If a concrete foundation (slab or crawl space) is required, add an estimate of $10 per Sq Ft of home to this price guide (if you don't have an actual quote)

Add for skirting (Not needed if home is on a crawl space)

Add for A/C if not an option included by your manufacturer

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Typical Investor funded projects

EXAMPLE # 1

 Project Cost                                                                $160,000

    Includes Land (40,000) + Home (90,000) + Home Installation (30.000)

LESS Buyer Down Payment                                           (20,000)

Balance                                                                         140,000

Management fee (10% of balance)                                14,000

Investor capital (70% of balance = 61% LTV)                 98,000

Home Nation capital (30% of balance)                          42,000

Net to Investor at Buyer’s loan closing in

approximately 90 - 120 days

(50% of Management fee)                                             $7,000

 

EXAMPLE #2

Project Cost(See VA loan pre approval here)                267,000

Less Buyer down payment                                             (1,000)

Management fee(@10%)                                               26,000

Investor capital (@70% = 63% LTV)                              187,000

Home Nation capital (@30%)                                         80,000

Net to Investor at loan closing in

approximately 90 - 120 days

(50% of Management fee)                                             $13,350

 

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AFFORDABLE HOUSING INVESTMENT PROSPECTUS

Please email Invest@HomeNation.com to request a prospectus of investment opportunities at Home Nation.  Regrettably, we are only permitted to offer our investments to accredited investors at this time.

You may also be asked to sign a NDA (Non Disclosure Agreement) and an AAI (Affidavit of Accredited Investor Status) form. 

 

Us
Pros and Cons of Renting Out Your Mobile Home - Home Nation

Pros and Cons of Renting Out Your Mobile Home

Renting out your mobile home can be an excellent source of passive income. When it’s time to move, many homeowners choose to rent out their property rather than sell it.

 

In reality, it’s just like any real estate investment — mobile homes provide people and families somewhere to live, just like a site-built house. More and more people are looking for affordable housing these days, and you can provide it while making a profit by renting out your mobile home.

 

Related: Ultimate Guide to Mobile Home Financing

Pros of Renting Out Your Mobile Home

Other than earning passive income, renting out your mobile home instead of selling it comes with many advantages:

Mobile Homes Appreciate in Value

While many believe that mobile homes only depreciate in value, that’s not true. Mobile homes can appreciate like stick-built houses. Even if the appreciation rates might be slightly less, mobile homes will go up in value if you make the right purchase and keep up on regular maintenance.

 

Renting out your mobile home doesn’t only help earn you extra income, but it’s also a long-term investment. For example, after renting out your mobile home for a while, you will likely be able to pay off any balance remaining on your loan. Then, if you decide to sell it later, there’s a good chance that you’ll turn a tidy profit on the sale in addition to earning passive income during the period you rented it.

Renting Your Mobile Home Can Bring a High ROI

Compared to stick-built homes, you can get a higher ROI when renting out a mobile home — whether it’s on its own land or in a park.

 

Here’s why: Even though most mobile homes have lower annual rental values than site-built homes, annual property taxes, insurance, etc., are often much lower, too.

 

However, it does depend on your mobile home’s location and condition.

 

Renting out your mobile home can be an excellent way to earn extra income in return for performing regular maintenance and managing tenants. 

Mobile Home Renovations Are Relatively Inexpensive

If you’re thinking about renting out your mobile home, there’s some good news: If you can spend some money on renovations before renting, you can get a much better return on your investment.

 

In addition, many people looking to rent a mobile home have fewer expectations than if they were to rent a site-built house.

 

Let’s look at some typical renovation costs for mobile homes compared to stick-built houses:

 

  • Roofs — Putting a new roof on a mobile home will typically cost between $1,000 and $3,000. Site-built homes of the same size usually cost anywhere from $5,000 to over $10,000.

 

  • Flooring — Reflooring a mobile home might cost you around $3,000; however, doing the same for a site-built home can cost you double or even triple that.

 

  • Windows — Replacing mobile home windows costs less than half of what it would for traditional houses because they typically come in a few standard sizes.

 

Related: How to Finance a Mobile Home

Mobile Home Maintenance Is Generally Inexpensive

When you rent out your mobile home, you’ll still be responsible for general maintenance. Luckily, most mobile homes are relatively small (800 to 1,400 square feet), and their systems are easy to access because of how their crawl spaces and foundations are built.

 

In addition, HVAC and plumbing maintenance is much less expensive than site-built homes, and you can usually find refurbished systems for replacements, which are quite affordable.

Mobile Home Tenants Stay For a While

at night the mobile home residents come out to haunt you!!!

Other than the money side of things, renting out your mobile home has another advantage: It’s actually pretty easy.

 

There are many renters looking for mobile homes — mobile home communities typically allow for things that site-built subdivisions don’t.

 

Many traditional neighborhoods have homeowners associations these days, prohibiting some people from living there. For example, many mobile home tenants like to work on older cars or own RVs or trailers — things that many HOAs frown upon.

 

In our experience, mobile home tenants typically rent and stay in the same home and community for years. Most tenants will pay on time and help take care of your property. 

 

Why?

 

Because they often have limited options for renting a property that fits their lifestyle and needs. So when they find one, they’ll likely stay for a while.

Cons of Renting Out Your Mobile Home

However, renting out your mobile home isn’t always easy — there are some negatives to consider:

Lot Costs & HOA Fees

If your mobile home is on a rented lot, you have to pay that lot rent whether or not someone is currently renting your home. And because lot rent usually makes up the majority of your monthly payment when renting in a park, you can lose money quickly when you don’t have tenants.

 

Many mobile homeowners rent their lots, and those lot fees can range from $100 to over $1,000, depending on the location. In addition, some communities may also charge HOA fees, which you’ll also be responsible for even if no one currently lives there.

 

Some mobile home communities also require the homes to be occupied by the owner — it’s important to understand your park rules on this subject before trying to rent out your mobile home.

Tenant Hassles

Even the best mobile home rental properties and tenants come with a lot of hassles. Stuffed drains, broken pipes, unannounced pets, roommates, etc., are only a few possible challenges you might face. Even great tenants will need your immediate attention when an issue pops up.

 

And then you have the difficult tenants. Daily complaints and late (or unpaid) rent can be challenging to handle. Another challenge comes when they move out — what if they caused damage that needs costly repairs?

 

Related: Mobile Home Parks: Pros and Cons

Is Renting Out Your Mobile Home Worth It?

 

Renting out your mobile home can be profitable if you’re willing to take some risks. If you decide to rent your mobile home to another person or family, the three most important aspects to consider are the community’s rules, the tenant’s background, and your continued responsibility for maintenance.

 

Does renting out your mobile home sound like a hassle? Don’t want to deal with tenants? At Home Nation, we’re not only one of the top mobile home dealers in the country, but we also buy homes! See what you can get for your mobile home today.

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