Updated over 4 years ago on . Most recent reply
Mobile Home in Florida
Hey yall!
This is my first time posting in this forum. I created my account years ago with the hope of buying my first real estate deal and finally start building my portfolio. Life got on the way and a few years came by when finally now I'm dealing with my first real estate deal!
Our company purchased an old trailer home that looks like its been through hell and back. It got shag carpet and has upholstered trim around kitchen. We don't know what year this thing was built. We own the land.
We are looking into possibly demoing the whole thing out and installing a premanufactured home 3/2 to take place on it and rent it out to a nice family.
Do anyone here has experience with purchasing mobile homes and have it installed on empty lot?
Most Popular Reply
Hi Alejandro I'm a small investor including mobile homes about an hour north of you in Belleview FL. I have also moved a couple used mobile home to lots. I also own a mobile built in 1974 that is in pretty bad shape that I'm going to tear down and put a new one on. You should be able to find the age of the home on the county website.
In my opinion if you were to fix up the home you would still have other issues. Paper thin walls, single pane windows, which lead to hi electric bills especially in Florida, which tenants will complain about.
Also I have a full-time day job so less headaches is important to me.
David Greene's book on long-distance investing "headache factor" (pg. 163) put it home for me. It will become stressful, lose sleep, cost you time and resources etc. Time you could be putting in in other properties.
My suggestion if it's in bad enough shape tear it down and start over. If the home is in the 80's' or newer you might have a chance if you put a lot of money into it.
I like your idea and share the same goals of tearing down and buying new and renting to a nice family.