What to invest in

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Dear BP family my wife and I are in the market to buy a SF rental property in the Bradenton, FL area and we have around $600k to spend, but we're trying to decide which direction to go - buy a SF house that can be a short-term / mid-term rental for the next several years until we temporarily move there (we're in KC, MO right now) or spend much less to buy a mobile home in a 55+ community and rent this until we move. I'm leaning towards the SF home, but my wife is wary of spending that much on a SF home and feels more comfortable spending far less ($200k or less) on a mobile home. Just wondering if anyone has had any experiences with this.

Any info is welcomed and appreciated.

Raymond J. Rodrigues · Answer

Hi @Chad Lundquist, I recommend reaching out to @Josh Green. He is an expert in the area!

Chad Lundquist · Answer

Thanks for the input Rachel. We've visited one of the two (2) communities we're thinking about investing in. My biggest concerns are the stigma (right or wrong) about mobile homes and since we're eventually planning to live in FL the activity levels of the people. We're both very active and are looking for similar people to spend time with. I'll DM you if I come up with any additional questions.

Thank you Rachel

Chad Lundquist · Answer

Thanks Raymond, I'll do that.

Alex Olson · Answer

@Chad Lundquist Love the strategy!

Chad Lundquist · Answer

Thanks for the input Alex, but we already have properties in KC. We're looking to add something in this area as a 2nd home once we're a little older and closer to retirement and are looking to buy something that we can rent 90% of the time until the time comes to move down there on a more permanent basis.

Alex Olson · Answer

Since you are here and have connections here why not buy in your local market of KC? KC is a great market for cash flow and a lot of out of state investors invest here. There are also certain pockets that are better for appreciation and cash flow.

Rachel H. · Answer

@Chad Lundquist It's best to pursue something both you and your wife are comfortable purchasing. If you're not sure about buying a mobile home in a 55+ community, it's best to find out more information about them in your local area.

You may want to visit a few of these communities to see what's involved when purchasing them. Once you start talking to more people in the niche, you'll get a better idea of the process and whether or not you want to pursue buying in this niche.

Honestly, I would not buy on price alone. It's best to be comfortable in whatever niche you decide to pursue as a real estate investor.

Personally, I've been in the mobile home investing space since 2007. Like any business, it has had its ups and downs. Though overall, it's been profitable. But, it's not for everyone.

Feel free to DM if you have any questions. Hope that helps!

What to invest in

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