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Old 02-27-2014, 02:54 PM   #1
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Addition to a modular home?


Hey there,

I'm in the process of buying an investment property/flip home and after the inspection yesterday, it turns out it's actually a modular home(4yrs, old3BD/2BTH 1100 sq.ft single family.). The inspector realized when he saw the truss/roof system in the attic. Otherwise we had absolutely no idea.

It's a good deal in a neighborhood that has been in transition and exploding over the past year or so. Tons of new construction, remodels and increasing property values,...

It has "builders/renters grade" finishes (peel and stick tile, laminate countertops, etc.) I'm thinking of buying it as a flip and would want to replace some windows, add french doors, possibly add some sq. footage onto the backside to expand the rear bedrooms, lay hardwood floors, redo bathrooms, and do some other minor cosmetics on the interior of the home.

Seemed like a "no brainer" to my agent and I before I learned it was technically a modular home. Would investing in this type of renovation($25-$50k) in a mod home for a flip be worth it? Can you do these types of improvements on a mod home without running into any uncommon problems? Can a contractor renovate them as if it was a traditional home?

I was excited about the opportunity but now I'm airing on the side of caution and thinking about walking away. Some insight would be much appreciated!

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Old 02-28-2014, 03:53 PM   #2
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Addition to a modular home?


In my experience, its next to impossible to do anything with a modular home as far as getting rid of it. Not worth the headache in my opinion. If I recall correctly, no lender will touch them, so you'd have to find a cash buyer (which aren't exactly abundant), or carry the contract yourself.

And forget about making money on them.

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Old 02-28-2014, 04:18 PM   #3
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Addition to a modular home?


Check with an insurance agent before making any decision. If you've never played ball in that park you might be in for an unpleasant surprise and savvy prospective buyers already know this.

Last edited by SeniorSitizen; 02-28-2014 at 04:20 PM.
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Old 02-28-2014, 04:41 PM   #4
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Addition to a modular home?


What does it say on the tax records? In Many areas if it on a permanent foundation it is considered a house. Modular is different from mobile home and not as bad as everyone is making it out to be. If it is in a developement of simular modular homes it should be easy to see what the value is after it is fixed up by looking at comps. A modern modular is built to the same building codes as a normal house.
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Old 02-28-2014, 10:41 PM   #5
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Addition to a modular home?


Quote:
Originally Posted by Mort View Post
In my experience, its next to impossible to do anything with a modular home as far as getting rid of it. Not worth the headache in my opinion. If I recall correctly, no lender will touch them, so you'd have to find a cash buyer (which aren't exactly abundant), or carry the contract yourself.

And forget about making money on them.
Do you mean manufactured (on a steel frame) or modular (wood structure built to local codes)
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Old 03-01-2014, 01:52 AM   #6
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Addition to a modular home?


I would like to know how someone concludes that a home is a "modular" home by looking at the truss system.
Not that I am saying that this can not be done, I simply do not know how this is borne out in an inspection of trusses.
Trusses are used extensively in conventionally constructed homes also.

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Old 03-02-2014, 09:17 PM   #7
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Addition to a modular home?


Modular roofs are often hinged and flipped into position on site. I'm assuming the inspector noticed this. If you look in the attic it is noticeably different than a site built home in a few ways.
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Old 03-03-2014, 12:50 AM   #8
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Addition to a modular home?


Quote:
Originally Posted by AndyGump View Post
I would like to know how someone concludes that a home is a "modular" home by looking at the truss system.
Not that I am saying that this can not be done, I simply do not know how this is borne out in an inspection of trusses.
Trusses are used extensively in conventionally constructed homes also.

Andy.
On some of them it is dead easy. A friend bought a modular home. I was doing some work on it for her. The home was built off site in two halves, each with the roof structure, including half trusses for the roof, and joined on site. All it takes is a quick glance inside the attic and it's very obvious this is the way it was constructed.
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Old 03-03-2014, 12:57 AM   #9
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Addition to a modular home?


Quote:
Originally Posted by Mort View Post
In my experience, its next to impossible to do anything with a modular home as far as getting rid of it. Not worth the headache in my opinion. If I recall correctly, no lender will touch them,
What does "modular home" mean to you? When I use the term "modular" home, I'm referring to a home which was built using traditional wood framing construction, except for the fact that it was built off site in road transportable modules, and the modules assembled on site, on the foundation. Aside from the assemply location there is virtually no difference in the construction when compared to a similar home built exclusively on site. There is nothing substandard about such a home, and in fact in some areas of the country some fairly nice custom homes are built using modular construction.

Are you perhaps confusing "modular" with "manufactured"? It's not the same thing.


Here's a picture of a modular home:



To be fair, the original poster may be confusing "manufactured" with "modular" also. it's not clear from his post. If he is in fact considering a "manufactured" home, your advice is probably has merit.

Last edited by A Squared; 03-03-2014 at 01:05 AM.
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Old 03-03-2014, 08:08 AM   #10
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Addition to a modular home?


Modulars are often confused with other forms of building. These are appraised, insured, mortgaged, etc the same as a regular house. They gain value as well.
They're actually built stronger and with more material because they have to be transported from the factory to the site. FEMA recommends them in hurricane prone areas because they do better during severe storms.
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Old 03-03-2014, 08:54 AM   #11
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Addition to a modular home?


Wouldn't it be easier to look under the home to see if it is built with standard floor joist to foundation or set upon a steel frame?

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