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Mobile Home Park Investing

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Christopher B.
  • Rental Property Investor
  • Knoxville, TN
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701
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Advice on first Lonnie

Christopher B.
  • Rental Property Investor
  • Knoxville, TN
Posted Feb 11 2013, 13:53

Don't know much about mobile homes. Have remodeled houses, have contractors, etc but this would be my first Lonnie deal. One of the largest U.S. manufacturers of mobile homes is located in my area so there is a decent amount of them around. Here is what I know and I'll post pictures soon as he is going to email them.

2/1 12x70

Needs floor work in kitchen and living room, outer pane of glass broke in kitchen causing leak, roof needs new coat of Cool Seal (3yrs since done), leak in roof caused floor damage in living room before seal was done, LR and Hall carpet cleaned/replaced, will Not come with heat/air, will Not come with appliances.

I will have to move the property because they purchased a new MH. Talked with a mover and to move it into the city where I live, located in an outlier of my city about 45mins away, it will cost $3k. I could also move it somewhere inside the city it's now, I'll have to find a park to move into.

Asking price is $1200 obo. Similar sized homes sell for roughly $7500

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