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My information tells me that although this is a clean quiet community the rent on a double wide is capped at $900/month. the seller wants to sell this furnished but that doesn't provide much cushion as far as the rent goes. My bottom line is NO GO.
doesn't seem like a winner to me. Also your interest rate seems really low. Investor rates on stick built homes are like 5.75, I would assume manufactured housing would be higher.
I fudged the numbers down to see where this would work.
Actually, the seller wants 6.5% with $50,000 down and a price of $175,000. Some of the double wide mobiles in this nieghborhood have an asking price of $225,000. I know, crazy.
My biggest problem is communicating with sellers that mobiles depreciate and after 40 years are essentially worth nothing. These should be selling for the value of the empty lot.
125k to make a sleazy 900 bucks a month . Nope .not profitable