Mobile Home Investing in California
I'm interested in learning investing strategies for mobile homes, but here in the Golden State (Sacramento area) we're paying Golden Prices both for mobile homes and lot rents.
I've got the dough to make all-cash offers and fund the rehabs, and I can find units offered in the $10-20k range, but with the lot rents being so high ($400 - $600/mo.) I'm worried it's just gonna suck the cash flow right out of the deal for me.
I've have to be charging a couple hundred dollars above that to be worth it, and at those price ranges the buyers could rent a SFR or nice apartment.
But then again, they wouldn't be owning it like they would with a mobile, so perhaps that makes all the difference...
Basically I was wondering if any investors here have found a way to make money with mobile home strategies here in California.
Perhaps someone could tag John Fedro for me to see if he has a student in these parts finding success.
I'm considering enrolling in his mentoring program but wanted to see if other investors had already found proven business models for success here in Cali.
Anyone? :-)
