Mobile homes in Shreveport offer new investors a low-level entry into building long-term wealth while earning a monthly income stream. Property rental rates also tend to keep pace with inflation, protecting investors from increases in the cost of living, meaning you can rest assured you will be enjoying your retirement in style. For investors with larger investment goals, mobile home parks offer great returns with relatively low demands on property management, as the tenants care for their units and rent your land.
No matter where you are on your investment journey, diversifying into several sections of the Shreveport market protects against an economic downturn in any area. Savvy investors are buying mobile homes in Shreveport because they offer a fantastic opportunity to diversify their real estate portfolio from lower-end units to large resort-style retirement communities. So read on as we explore what investors need to know about buying mobile homes in Shreveport.
Market
If you have been around this area for as long as I have, then you will know that there is a market for buying and selling mobile homes. You will not figure out the market by research and you will not figure out the market by talking with mobile home dealers. The best way that you will figure out the market is by selling the mobile homes that you have bought. The buyers are the market. They will not knowingly tell you what your mobile home is worth when they come up with cash offers. If you are trying to sell that 2000 3/2 single wide for $15,000 and everyone keeps offering you $10,000. Well.. that is the market.
The local market is something investors need to know about before buying mobile homes in Shreveport. You should consider yourself a local market expert when you manage your real estate investment business, meaning you understand the forces, factors and principles that drive the local economy. You must also know the market data or where to locate it quickly. Then, interpret this information and act accordingly to adjust your investment portfolio as needed in real-time. Professional buyers like those at Highway Homes are local real estate investors who have built their careers improving investment properties, working behind the scenes through networking and working together with the best in the business to get things done. At Highway Homes, we’re proud of our work to improve our neighbors’ lives while keeping property values high for investors in Shreveport.
Right Location
The location of a property can significantly influence the long-term, which is another factor investors need to know about buying mobile homes in Shreveport. Along with perks such as water frontage or stunning mountain views from the site, you must consider the surrounding neighborhood, crime rates, nearby amenities such as parks, and school ratings. Professional buyers like those at Highway Homes can help you target the best available investment to fit your budget comfortably and avoid the pitfalls and headaches that come with learning the hard lessons of investing for yourself.
Honestly, the location is going to matter if you are buying the land where a mobile home sits or if you are putting a mobile home on it. Be very picky about the location.
Inspection
In my experience, some people do not mind having to put in work to fix up a mobile home. I do not mind buying a mobile home that needs work depending on the brand of the mobile home. When I acquire these mobile homes they can be overwhelming to look at with the big mess on the inside. When you get a crew of people to go in and clean it up it allows for potential buyers to see all the real work that needs to be done. The great thing about a mobile home is, you do not need to put much money into it to make it livable.
Investors need to know specific details about buying mobile homes in Shreveport to avoid making a costly error. Experts in mobile homes or manufactured housing understand the issues that can develop in these properties, be it water damage that swells floors and cabinetry, doors and windows that don’t function properly or a compromised vapor barrier and consequent problems with flooring. While you may note the surface issues, it is always highly recommended you work with someone who can catch the red flags less experienced eyes may miss, no matter what property type you are considering. Professional buyers like those at Highway Homes can help you find mobile homes with great potential and avoid the money pits.
Right Price
Investors need to know how to determine the right price to earn the highest returns when buying mobile homes in Shreveport or really in any large city. Mobile homes and the surrounding community can vary greatly, each variant affecting the value, be it luxury add-on features that increase value or owners have made fixes that are not up to par that may decrease value. Zeroing in on the right price point for a mobile home investment requires a seasoned pro to target the value. Professional buyers like those at Highway Homes understand the local market and the differences in mobile homes that can add or detract from the value and help you learn the signs to watch for as you gain experience.
Now, do you want to know what the right price is? The right price is you being able to get a mobile home for as cheap as possible. Not just a mobile home but a mobile home that you know other people would like to live in. Just because the mobile home is at the right price does not mean it is the right mobile home.
Bottom Line
If you want to be a mobile home investor. The best thing to do in my opinion is start with as little money as possible and find the best deal out there. Do not buy the first mobile home you come across. Go through so many before you make that decision. Now buy your first one and only clean it up. Sell it! Double your money and do it all over again with the intentions of buying two this time!
Investors need to know how to run the numbers that add up to the highest return on your investment dollar when buying mobile homes in Shreveport. From purchase to rehab, holding costs and ongoing expenses to potential vacancies, there are a great many numbers involved. When considering a potential investment property, however, it is essential investors keep in mind that the speed at which you run your calculations and make a decision can make or break your chance to be the early bird that gets a great deal on a mobile home. Professional buyers like those at Highway Homes will guide you step by step through the numbers so that you can be confident in your investment.
The professional buyers at Highway Homes know the ins and outs of buying mobile homes in Shreveport and are helping investors like you ensure their portfolio is healthy and will carry you through your golden years. The professional buyers at Highway Homesand our full-service in-house team of industry specialists are ready to jump into action and get you started with your real estate portfolio’s Shreveport mobile home sector. Call Highway Homes at (318) 575-3180.