Ok, so our price range is 40k to 75k when looking to buy a rental property, C class. Assuming the location is decent, what do you think about manufactured houses? I struggle with getting serious about them because our strategy is buy and hold for the long term. And generally, these are not long term houses since I feel they are not made as tough. Buy maybe they are??? However, there are a lot more manufactured houses options in our price range, then constructed house options. Plus, I am not sure a manufactured house has "renter tough materials." But maybe I am wrong. What do you guys think. Yay or nay?
Manufactured homes are very difficult to get a mortgage on. They need to be double wide and very few lenders will do more than 20 year mortgage on them and there's an age limit on the ones they will refinance. Lenders are very analytical so that probably tells a story in itself. If you decide to do it make sure the numbers work based on 10 years would be my thought. Hope that helps.