I have a chance to buy??
It's a single wide mobile home mid 80's, it is on it own land not rented land. Half acre maybe. Rents for $475, they are asking 16k prob take less? Do you think is worth it prob get money back in a few years? Currently $5700 per year its bringing in minus tax etc. I could always later on down the road pull it out an replace it with a newer one? Any suggestions, do and dont's. Thanks Shane
@Shane Waller that sounds like a decent deal especially if it is on it's own land. What size mobile home is it and how many bedrooms? Your market may be different than mine but around here mid 80's usually go from 8K-12K range depending on size and that's without the land. Is the sewer and water city or do you have a well and septic? Rents seem low but depending on the size and your market as well would make it vary a lot. Condition of the mobile home is something to consider as well. A lot of variables in your question but overall I think it would be something to consider. Unless the mobile home was pretty bad shape I think it is a decent deal. I would buy it. Mobile homes on their own lots are a plus. Saves on lot rent.
I looked at it and it seems a bit rough. Don't know that I am going to mess with it. I see some potintial but I think I will wait it out on this one. I got a chance to talk to the neibor and he gave me a little insite. He said he didn't think the heat work? If I could get it for the right price I would but I don't think it is priced right. Will talk to owner more about that this week. Thanks
#2 Mobile Home Park Investing Contributor
- San Antonio, TX
Though it takes time, market research is key to being successful in this niche. If you can figure out the supply and demand in the area(s) you choose to work in, you'll be ahead of the game.
Hope this helps!
Thanks Dawn I really would like to buy a place a the beach. Just don't want buy at a park and then they decide to sale to a developer. Would have no problem renting just high lot rent.
Thanks Racheal i
really would like to buy a place a the beach. Just don't want buy at a park and then they decide to sale to a developer. Would have no problem renting just high lot rent.