Real Estate Investing, Mobile Homes, Upstate SC, Greenville SC

Once again we wanted to visit the advantages of Mobile Homes in your Real Estate Investment Portfolio. More and more Investors are looking at these as a viable option for rental properties due to the low cost and minimal maintenance they offer. The carrying cost for a Mobile Home including Taxes and Insurance is the lowest of any Rental Properties. Here are some reasons why:

1. Taxed as personal property: Here in SC any Mobile Home that is still titled is taxed as personal property. A typical 2 bedroom home would have an average annual tax as an investment property of around $1100.00, the typical Mobile Home as a rental would be taxed at about $225.00 per year. Average property insurance on a home would be $650.00 while a Mobile Home would be $235.00. These are all dollars that go directly to the bottom line of your Investment Portfolio.

2. Land cost: A great advantage of a Mobile Home is you can place it on a rented lot. This gives you the freedom of not having to worry about yard maintenance and property liability. If a liability issue arises it is the responsibility of the park you have the home located in. With lot rents running between $100 and $170 per month this is a very inexpensive opportunity for you as an Investor.

3. Repair and Rehab Costs: Here is where you save the most money overall. A typical 15 year old home will have on going maintenance issues that the costs can be very high. Where as a 15 year Mobile Home even if you had to completely gut and redo would cost on average $2800. That savings again goes directly to your bottom line.

If you are just starting your Investment Portfolio or have decided to expand it, Mobile Homes are a great opportunity to get more properties for your money. On average you can buy two Mobile Homes a typical low cost single family home rent ready will be around $45,000 where as for the same price you can get two to three Mobile Home Rentals. Rental rates here in the Upstate for a 2 bedroom home are between $450 to $600, while rates for a two bedroom Mobile Home run between $400 and $600. The dollars just make sense using Mobile Homes as Rental Properties.

Have additional questions? Drop us a line at agentdadams@gmail.com or give us a call at 864-201-3960. Thanks

Greenville SC Real Estate