New to Real Estate · Orange City, FL. · Member since 2015 · 6 posts · 4 votes
Hello. My goal is to move to Florida for at least a year and decide whether or not Florida is for me. I was considering the purchase of a 1969 mobile home. I understand how old it is.
I just want an inexpensive place to stay while I look around.
I am concerned that if I decide to buy a home that I may be stuck with an old mobile home that I can't sell and continue to pay park rent.
What are the chances of selling this home a year or so down the line? I realize that park management would need to approve the new owner. However, I am not familiar with the local real estate market for this type of property, (Volusia County). I don't want to be stuck for a long time unable to sell should I decide to purchase a house. The bank is gonna see park rent as a financial obligation . Any advice would be appreciated.
Investor · Boca Raton, FL · Member since 2015 · 58 posts · 20 votes
10y
Don't buy a mobile ( manufactured ) home. Rent for a year, and make sure you understand the market you are in. If you buy an inexpensive home that is not on owned property or has a land lease it will be very difficult to get rid of it if you should choose to exit. Make sure the land is yours and then be aware finance and insurance sometimes becomes a challange.