Single mobile home rental

[Chaston Farris]

So I am wondering if this is a deal for a mobile home? It was listed for sale for 39,000. I have got him down to 18,500. The property gets $400 a month rent and has been occupied by the same tenant for the last 10 years. From what it looks like, the place is well taken care of. I am new to mobile homes so I am wondering if this is something to jump on? I have one single-family rental that I just got filled.

[Lindsay Linton]

Sounds like a good deal depending on the condition of the home, bedrooms, age, etc.  In my area we can get a decent mobile home for around that price or a little more.  Have 3 currently.  They rent out so well, we get 500-600 depending on their condition.  We have invested in them for years and they have been well worth the investment.  A home in a class C neighborhood would cost probably 2-3x what we spend on the mobile homes but give us same rent.  Even a class B neighborhood say at 3x cost we could get 900/month max.  Just makes more sense for us considering we want the cash flow, rather than a resale.  We could turn any of ours around and owner finance for atleast 10-15k more than we invested but we have only done that once.  Probably will do it again in the future again.