Should I purchase this run down double wide trailer on a lot that does with it,but not attached? or should I purchase a foreclosure 3 bed house, rehab and sell? What would you do??
Well, we need numbers. It's all (mostly) numbers.
I would analyze the numbers and consider the intangibles to see which one was a better deal and which one (if either) met my goals.
What do you want to do? I don't like to do construction so I prefer homes closer to rent ready buts that's my preference. What's your preference?
Interesting>>>thoughts, thank you. I would make 40K after rehab on the 3 BRM after it sells 30 60 90 days. 30 k rehab 30k ARV100k
would make $650 a month after a little paint and flooring in a couple of days move in ready on the double wide. purchase 5k rehab 3k PLUS I'M GETTING ASMALL PCOF GROUND WITH IT just a lot size
Talking to investors in the past ...I was told trailers make a lot of cash flow? How many of you own trailers or doublewides? or do investors steer away from them BECAUSE OF dep value.
I would buy the house if I could make $40k, BUT in my history of flips, the chance of buying a house for $30 and adding 30 and selling for 100 is not too likely. And if the deal was there, it is not there now, because the first person who seen the deal would have made a cash offer on the spot. (Unless this is a special family or other secret deal) or a large portion of the profit is actually wages for you doing the work. If you hire everything done, it will cost a lot more than you think.
I don't do flips any more because I got tired of selling a rehabbed property for a profit of 5-10 thousand, when I could make the same by renting the house for a year or two.
Back to your question, buy both, the mobile seems like a steal.
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