Updated almost 10 years ago on . Most recent reply
Double wide homes
I recently ran across a motivated seller that is selling a 3 bed 2 bath double wide mobile home. He is asking 28 grand and it has been accessed at 71 grand. The house is in a rural area so to get to it you have to travel down a dirt / gravel road for a couple miles. I'm asking the more experience people out there, should I try flipping this deal for 10 grand? It's the location I'm concerned about. Any advice is helpful. Thanks.
Most Popular Reply
I have no idea about your market. These numbers are for mine.
If it has a permanent foundation where it qualifies for FHA financing yes its a deal depending on condition. It would go 55K-65K here. Being rural with land is a plus typically but again is market related.
No foundation is cash only and maxes out 35K or less typically 25K in value.
So the foundation is the important question.
FYI they also make great rentals. They cashflow almost the same as a house at a much lower acquisition cost.
Thats my 2 cents. Your market and mileage may vary.
-Shane