Traditionally when I have worked with investors buying Oklahoma City rental property we have done what is called "stick built" homes. Stick built means wood framing done on a slab that normally takes 4 to 6 months to build. What we will be adding into our 2018 opportunities are modular homes that come pre-built. Modular homes should not be considered the same homes as a mobile home since they are not on wheels and designed to be put on a permanent foundation. What we love about the idea is that the home is a factory build with six inches of insulation, and ours will have granite counters among other upgrade features that you see on traditionally built new homes. They come completed at 45 feet wide without a garage but a garage can be added. For those who love ecology and hate waste, modular homes are built with precisely the materials needs whereas stick built homes have a lot of waste that ends up in landfills. The even better news is that with a garage and place on a permanent foundation, the price can be between $100,000 to $120,000 including the land. What we also like about is that we can build ahead of time the foundations so we can quickly assess the need for rentals which will also mean less vacancy time. This is an efficient way to buy Oklahoma City investment property and please check back with me on when these will start becoming available. We anticipate Oklahoma City modular homes to start being delivered in April of 2018. For more information and details please email me at joe@joepryor.com.
Joe,
I think this is wonderful and we have a friend who was in the business of building the luxury version of these. There are several in Malibu perched on one of the hills with a magnificent view of the Pacific and the Islands. A
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Debb Janes
Camas, WA
The word "modular" conjures up the wrong images. They can often be better than stick-built homes at a very competitive price.
Hi Joe Pryor - nice highlight on this subject. Homes like this when built in a factory setting can save thousands and more importantly are much better environmentally. There is less waste and more recycling from start to finish.
I suspect that the unaffordability of homes in many areas of the country will spur on modular home construction in the future.
Hi Joe- I like the idea of less waste!!! I've seen a lot of new construction thanks to Larry and the waste sticks out like a sore thumb.
There is a lot to be said for modular homes Joe Pryor and I hope you keep us updated on this new development coming to OKC!
Morning Joe.
I like the idea, there are several around here however, they are difficult to sell just because of that one word "modular".
You are always on top of investment opportunities in your area, I am sure that your clients greatly appreciate it.
Modular homes can be a very good option. We had hoped to build a small modular cottage on our acreage for our parents. But it didn't work out - not a fault of modular homes. It's a long story...
Modulars often get confused with manufactured homes - the latter tends to lose value quickly. D
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