#31 Rental - Cost $305

[Rocky V.]

Financed this M/H on 1 acre with a private lender this week.  After all debits/credits I'm all in at $305.  Purchased this property for $42K Cash on 1/6/15 (including all fees), rehabbed for $2558 (including all holding costs and survey) and  financed at $46K on 3/4/15 with private lender for 15 years at 9%. 

P&I $466/month

Ins $65/month

Taxes $114/month

Rent $1,000/month

[Rocky V.]

@Sharon Ku I am concentrating on properties within 1 hour south of Dallas and Fort Worth.

@Michael Wentzel Proper maintenance is key in M/Hs.  My oldest M/H (pic below) was built in the late 70's and it set me back over $30K in rehab on initial purchase but it is owned free & clear and renting for $900/month.  My plan is to eventually owner finance these properties.