Updated over 6 years ago on . Most recent reply
New to real estate investing
My Husband and I currently stay in a mobile Home. We are preparing to move within the next four months, and we want to make the mobile home a rental property and collect cash flow.
My question is would it be wiser to just sell the mobile home and use the money as a down payment on a duplex or single family home?
Most Popular Reply
The most famous answer in all Real Estate Investing, it depends. What are your goals? Each scenario would have different benefits. You would get property management experience if you rented it and cash flow it. Then consider how much cash flow. If you’ve not read Brandon Turners book on Rental Property Investing, I suggest doing that. If you used the money to begin the stack (duplex you 4 plex, to 7 units, ect) you could also do that. Investigate how much money you would get from the MH and find out if it’s enough money to use s as a down payment or not. Consider what path you want to take and then pull the trigger. Great questions! Best wishes!