Manufactured Home Strategy and Deal Analysis
Hi all,
I am looking for feedback on a deal I am working on.
I have a 2 bd / 1 bath manufactured home, all cash for $17,000, which does not own the land. There is a housing shortage in the city and rents for this are going for $900.
Manufactured Home 2bd / 1 bath
Current: $17k cash
ARV: $25,000
Rehab: $3,160
Space rent: $515
Rent: $900
Tenant pays water, electricity, internet, etc
It feels like a good buy and hold strategy because rental are in such high demand in the area. Buy I am interested in pulling the initial investment out in 2 years.
I am thinking of Lease Option possibly too