Tuesday, April 13, 2010

Terminology Tuesday - What Is Masonite Hardboard Siding?

(Note: I think it's important to know the terminology and words used when learning any new business including mobile home investing. I came up with 'Terminology Tuesday' as a way to go over the terminology used in the mobile home business. It's important to know the terminology when talking to people in the business so you're all on the same page).

Video Link

Most mobile homes will have 3 main different types of siding: aluminum, vinyl, and masonite hardboard siding.

Here are some pictures of mobile homes with the 3 different types of siding:

1. Mobile home with aluminum siding

(Note: One of my deals - very entertaining story. Though it was an ordeal to put together, my efforts paid off. This one is a 16x80, early 2000s model. I bought it for 8k, received 2k down and it cash flows in the $500/month range for 15 years. I really put in a lot of time and effort on this one -it was a good payday for all my hard work. After all is said and done, it's great to have another nice and relaxing cash flow payday for many years to come!)

2. Mobile home with vinyl siding

(Note: These tend to be the newer models - 2003 and up. Many new homes now are built with vinyl siding, though there are some that are still built with aluminum and masonite hardboard siding).

3. Mobile home with masonite hardboard siding.

(Note: My first deal. I bought this one for $3600, received 1k down, and it cash flows for $250 for 4.5 years. Since then, I've moved on to do more deals but this one still remains as the most important deal of all).

There you have it, 3 different types of siding used for mobile homes:aluminum, vinyl, and masonite hardboard. The pictures above should help give you a better idea of what each type looks like.

Once you go out and see enough mobile homes, you will get a better feel for the homes and what your local market has in the area.

Happy investing!

p.s. I just wanted to give a quick plug for my blog pal, Steph, at Flip This Wholesaler. For those of you who are just starting out and need to build up cash before you start investing, I highly recommend checking out her Wholesaling Q&A call this Saturday, April 17th.

(Note: I don't receive any compensation for sharing this event with you, I have to say this because of the disclaimer blogging rules).

Both me and Steph have similar styles - we both believe in education and are always willing to help others out. She doesen't hold back and is the real deal - it's definitely worthwhile to check it out. Thanks for reading!

1 comment:

Anonymous said...

I have a friend who's just bought a double-wide mobile home with masonite siding. I didn't even know they made those!

Thanks for the insight.