Hillsborough Township, NJ · Member since 2018 · 14 posts · 1 vote
Hello all!
An opportunity has come across my path to purchase a manufactured home for fairly (really) cheap - I also happen to be needing a new living situation soon. I haven't seen the home yet - but it is already known that there is a leaky roof, old kitchen appliances, and some needing to be replaced carpeting.
If I were to purchase this type of property with the intention to live in the home and rehab it over a period of 4-6 months - and then sell for a much higher price - that it would be a decent first investment and also a way to learn how to rehab a property on an extremely small scale?
@Jason Wright, if the numbers work, the numbers work. Doesn't matter if it's a mansion, small 3/2, mobile home, or outhouse. If you can by it, fix it, and sell it for a reasonable profit then it is a deal.
Well, if you are going to live in it then it may matter if it is an outhouse.
@Jason Wright How old is the unit? I own two mobile homes that are rentals.
The most important part (of any structure) of the mobile home is the roof. I have added overhangs and new metal roofs to both. that to me is the permanent way to stop roof issues.
Is it a land home package or is the home in a park?
@John Newsom - It is a 1980's unit and it is in a park, the lot fee is around $500 a month. Thank you for the tip about the metal roof! I am hoping to fix the problem myself, so I will look into those.