All Forum Posts by: Jaren Woeppel

Great information from @Matt Miller!

Just a small bit of information to arm yourself in regards to the lease and your wife's sister's DTI. Most of the time, lenders will only qualify a percentage of the rent towards your DTI. For example, if rent is $1,000/month and your lender will qualify 80% of the rent, you may only be able to qualify $800/month of that towards the DTI. May not affect your situation at the moment but something to keep in mind as you grow your portfolio.

@Chase Louderback Thank you very much for the detailed response! After reading the responses, I could have been more specific on this particular situation. I am investing in the lot long term, where I will eventually build a new home. Currently there is a manufactured home on site. I am ultimately trying to see if there is a positive value for the home being there, or if it will end up being a negative value.

Ideally, it would be wonderful to be able to sell the home and have it transported to the buyers location. Based on what @Rachel H. @Dave Rav and @Jeff Dawson recommend, I think my first course of action is to check with local mobile home and FB marketplace to see if I can find a willing buyer.

My next thought would be to see what repairs would be needed to rent the home, until we are ready to build.

I guess the last option would be to just get a quote to demo and haul away. The mobile home was built in 1981, so we should be good on the asbestos front, but I am not sure how valuable a manufactured home of that age is?

Really appreciate all the thoughts and commentary. If there is anything I am missing or overlooking, please let me know!

Hey, BP Community

I am in the St. Augustine, FL area and have a question the manufactured home investor community. I am looking at potentially purchasing a lot that currently has a manufactured home there. I have never invested in this type of property before, so I was wondering if there was, if any, value in the manufactured home? How easy and what is the cost associated with relocating a manufactured home? Are there buyers for these kinds of homes? Do they have to fit into a certain age / condition criteria to even be considered? If there is no value, what kind of costs and cleanup are there with removing the home from the property?

I know I threw a lot out there but I am hoping someone knowledgeable in the space will have some insight to share and it will help the general community as well.

Thanks,

Jaren

Welcome, Sam! I will send you a message and connect.

Thanks @Martha Daisley!

I suppose the basis of my question lies with how valid the platform’s, in this case VRBO, contract or “lease” would be in this case? For example, if we are easily able to show the unit was rented using this platform, the dates and costs etc are clearly defined, would that hold up in court as a reasonable expectation for the guest/tenant to have left by that time?

Bringing this thread back up, did anyone find out any more information from an attorney on this? Thanks!

@Evan Greenfield Did your client end up building those duplexes in St. Augustine? If so, would you mind sharing where and who ended up building them? Thanks!

@Kenneth Heyman

@Chris Mury knows the STA market better than any real estate agent I know.

@Gavin G. Would be happy to have a discussion with you about it.

@Chris Mury