It really depends on the specific mobile home but 90% of all mobile homes are considered to be personal property. And there really are some great benefits to this being the case! In this video I talk about may of the benefits you get when you deal with a mobile home that is personal property.
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Hi, I’m Chimene Van Gundy, bestselling author and mobile home millionaire and in today’s video we’re going to talk about are mobile homes personal property? Well, yes, most of them are. In fact, 90% of all mobile homes in the u s are personal property. That means that they’re like a car, they have a title and most of the titles are held at the local DMV. This awesome means that when you do a mobile home deal that is personal property, you can close that transaction and typically 30 minutes or less. Mobile homes that sit and mobile home parks are also personal property. This is where people are paying lot rents. Lot rents are beneficial in a lot of ways. They actually go toward the upkeep of the community. Here’s some things that lot rents actually cover. I love investing in mobile homes that are in mobile home parks and making that relationship with the mobile home park manager, not only does lot rent go toward the beatification upkeep of the community, they go toward a background check for all individuals that live there.
They also check their credit. They make sure that people don’t have any, you know, bad credit or any bankruptcies or foreclosures, they make sure they’re not felonies. They actually make sure that the mobile home is kept up to a certain standard, that it maintains its insurance and they lock it down, meaning that nobody can pull in a truck and drive away with your asset. There are several benefits to having mobile homes as personal property. Also, if you live in a preferred community, you actually get discounts on things like insurance for them and it means that community is very, very safe and has gone through some rigorous inspections to ensure that they’re doing what’s best for their people that live in the community. So these are several ways that mobile homes are personal property and also the advantages of it. I hope that this video helps you figure out whether or not the mobile home that you’re going to purchase is personal or real property. And I can’t wait to see you on the next video.
If you love these videos, I would like to invite you to my free webinar where I’m going to teach you how to buy and sell mobile homes and the three secrets top real estate investors use to increase their profits and a booming or slow economy. Don’t forget to like comment, share, and subscribe and I can’t wait to see you on the next video.
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- Why Mobile Homes are little boxes that are easy to overlook… yet massively profitable!
How To Become A Real Estate Expert With NO Previous Real Estate Experience
I’ll Share Exactly How I Acquire 25-30 Mobile Homes Every Month with Nothing Out of Pocket