Updated about 6 years ago on . Most recent reply
Cant find much info on buying a singlewide for rental property
I just agreed to a deal with a older fellow who has the title to his singlewide mobile home. He pays $155 a month lot rent. After analysis I can make around $350 a month cash flow on it but I'm worried because he doesnt own the lot. I'm new to real estate so i dont know all the details on buying homes on lots. It seems like most people on here are buying the whole trailer park, lol. But is this a smart deal or. Is there something that I'm over looking?should I just flip it so I dont have to deal with the lot rent?