First rental property

6 Replies

I am 21 years old and in January I’m looking to buy my first unit or units. I will be receiving a check for 30k and my question is. would it be better to buy a couple mobile homes or one single family home. Thanks for any help.
@Tyler Simmons Don’t waste your time on mobile homes . Get a single family or better yet a multifamily house . Mobile home is a fancy way to say trailer . Trailers don’t appreciate like a house and you can not get the same rents .

Mobile homes are sort of a niche and I think buying parks makes a lot more sense than individual units (especially if you don't own the land). They just don't tend to appreciate well. So I would lean toward the single family home.

mobile home investing is a very great way to get into real estate at a low entry cost and high reward. what I love the most about it is that it is a gateway drug to owning mobile home parks. 

when a bank or hard money guy or gal asks you well I see you want to buy this mobile home park but … what do you know of mobile home parks... you can say well I own several homes in parks In the area and here are references for you to call that I have worked with. 

I will stand firm on saying that mobile home park investing is hands down the most lucrative niche in the real estate industry if done properly. 

That is in fact why I invest in mobile homes. It's my gateway to the most lucrative niche in the industry. 

hope this helps.