Updated about 5 years ago on . Most recent reply
I’ve got Analysis Paralysis and I know it
I’m trying to replace my W-2 income with real estate. I currently own several smaller rentals and now I have a deal that may help me reach my goal, but it’s not what I had in mind when I started out. It is a mix of multifamily and mobile homes on one large parcel. It’s a big investment for me and while I am definitely a cash flow investor, I still want appreciation and mobile homes don’t seem to fit the bill. This is an extremely well kept property, so no concerns there. Has anyone changed up their criteria slightly if they come across a deal? Do I modify my expectations? Does it matter, as long as it cash flows? My intention is to hold forever, but what if I want to refi?
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@Gretchen Parlier Sounds like an interesting property... If it has the infrastructure (plumbing, electrical etc.) to hold mobile homes that’s awesome! What if you fix and flipped the mobile homes? You could offer seller financing and charge rent for the new owners who will most likely want to keep the mobile home on your lot if it’s nice enough. That way your getting rid of a depreciating asset (the mobile home) but creating two income streams for each mobile home: lot rent and a mortgage payment!