How did you convince yourself to invest in manufactured homes
I found I deal that could be very profitable for me, but it's so hard to pull the trigger on something that isn't pretty, only depreciates, and might be more work than I expect. When I see the property, I think how can I put money into this, but when I look at the numbers, it seems like a no-brainer. How did you make that "leap of faith on your deal"?
deal is 4, half-acre lots. Three with trailers, that rent for 750 a month. Asking price is 145k. I calculated it cash flowing 15k on a loan(if I can get one). That's with 6000 in expenses. So for 20% down (29k) I making a ROI of 51%. I rode by the place today, and it's not horrible. There is a neighboring lot that is kind of junkie. if I got someone to manage it, that might alleviate most of my reservations.