A Mobil Home property is for sale what should I know

[Diane Albano]

I am a first time investor a "Family Park Unit" unit just came up.  I need some help.  Iit's a double wide 2bdr, 2bth, New roof new carpet.  Lot rent is  $529.24 mo.  yr. built 1991.  Water $30.00 Mo or less.  Their asking 65,000

Gas & Elec $99.00 month  Bath's updated.

Mobil Home Insurance $500-700.00 mo.

Can I get some feed back

[Celeste Fackrell]

Diane,

Are you buying land with the home or just the home?  I am not sure exactly what you're asking but I am interested.

$65k is WAY to much to spend for a 25 year old mobile home, if that is all you're getting.  Probably 5 or 6x what you can really buy one for.  I own a small park and would not pay more than $10k for a home that old, and only then if it is in tremendous condition.

Insurance $500/month?  I assume you mean $500-$700/year?

Again, I don't have enough information.  

* Are you buying land AND home?

* Are you buying in someone else's park?

* Are you trying to flip or hold and rent?

* What does a 2/2 apartment rent for next door?

* Sewer or Septic?

* Who pays Utilities?  What utilities? (gas, electric, oil furnace)

* Etc.......

Sam