Mobile Home in El Reno, Oklahoma

[Jimmy Martz]

Hello BP,

I have an off-market double wide mobile home in El Reno that has been offered to me.  I'm trying to decide if this is something I should consider buying as a rental.  Any insights would be appreciated.  

2010 Clayton Double Wide  26ft/53ft on 1 acre of land.  

3 bed, 2 bath, no garage or any other structures on the land.

big wooden decks on the front and back doors.

Seller is willing to sell for 30k cash

[Angie Y.]

Hi- Is this home on a septic?  I would be very concerned abut septic and drain field due to them failing when abused by occupants.  They cost more to insure and seem to have less appeal to tenants than stick built homes possibly due to the stoma associated with 'trailers'.  You could run a rental test by advertising it briefly to see what type of responses you get.  We owned several double wides that really cash flowed well though they did not appreciate due to age.  We attracted good tenants but it took twice as long due to them being manufactured.  Many people stuck their noses up even though we made the inside and exteriors of these beautiful.  I think lots of people worry about what their friends will say about them living in a 'trailer' and some don't care, especially if they get more home for their dollar.  Also, they cost more to heat and cool so you might want to keep that in mind for your tenants overall cost.  we discounted our manufactured homes by $100 a month due to their being manufactured and that always worked well for us.  Once tenants were in them and realized the value, they loved them.  Ours were always on their own lot in major cities.