Updated almost 14 years ago on . Most recent reply
Mobile Homes
Hi Everyone,
What attracted me to this site was "Mobile Home Investing." I have been in the mobile home business for 7 yrs. prior to getting my real estate license in CA. I understand mobile home and they been very good to me. About 4 yrs. ago I was watching a program on flipping houses, it seemed like to much work, so I turned to my husband and I said, why don't we do the same with mobile home? I lived in San Diego at the time, which I don't live much further from there now. So, I went to a curtain area where I first started selling mobile homes and the first one I bought was a double wide 2 bedrooms, 1 bath (the guy wanted out bad) so I called an investors I knew and we went half and half. We did all the work ourselves I bought it for $14,000. in a real high end park and I turned around and sold it for $34,000. The next one I bought, I paid $3,000. and sold it for $12,000. and so on and so on, I make about $50,000 in a very short time. Anyway I am getting back into it again.
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In terms of renting, esp. with an older unit, you would responsible for the upkeep. There is always the side of renting to section 8 tenants, but the guidelines are very strict to get the unit approved. But, in VT it is illegal to deny a rental to someone who is on section 8. I guess the best advice is rent to own with.specifics in the contract stating the tenant is reponsible for repairs.