We are all familiar with the concept of flipping a home and how it can be a profitable investment. We also know that such a project comes with risks. The money you spend on the flip may end up outweighing the profits you make. Instead of renovating a single-family home, consider a mobile home. Here are some reasons to consider flipping a mobile home instead of a house:
Affordable
The most basic and biggest benefit of flipping a mobile home instead of a single-family home is that mobile homes are small and affordable to buy, renovate, and sell. If you've always been interested in flipping a home but never had the funds to do so, you can also flip a home that's much more affordable. According to the National Association of Realtors, the median home price in the U.S. in January 2024 was about $380,000. According to Forbes Advisor, a new single-wide mobile home costs just $50,000, and a used mobile home is half that.
High demand
Mobile homes are popular with many people looking for an alternative to traditional housing due to their affordability. It's no secret that home prices across the United States have risen steadily over the past decade, leaving many people seeking affordable housing. Luckily, mobile homes are becoming more popular every year. Mobile home market analysis predicts that these structures will become more common over the next decade, driven by the high demand for affordable housing.
They turn over quickly
Because mobile homes are affordable and in high demand, reselling them is much quicker and easier than a traditional home. Because mobile homes are smaller, they literally require less renovation and remodeling. Plus, they usually require fewer major changes. Mobile home resellers focus on improving and sprucing up the aesthetic of the home, rather than making major changes like knocking down walls or redoing a bathroom.
High return on investment
Flipping mobile homes offers a high return on investment (ROI) because they are more affordable than homes, are in high demand, and can be resold quickly. In the time it takes to buy, renovate, and sell one single-family home, you can flip multiple mobile homes and make a bigger profit with less investment.
How do I get started reselling mobile homes?
It's a great idea if you want to get started in flipping mobile homes instead of traditional homes. Our beginner's guide to house flipping starts with checking out your local market to see what's available. Talk to real estate agents and mobile home park managers in your area, or look for “for sale” signs, and get started on your mobile home flipping journey.
Clearly, it can be very profitable to convert and resell a mobile home rather than a traditional house. With home prices on the rise, the affordable housing market is a promising area to invest in, and mobile homes can be resold faster with less investment.