All Forum Posts by: Lisa Fryer

Thanks Curtis. I have heard of these proposed bills and will be contacting my representative. I am more risk averse so I would prefer to take my money and run. But my husband wants to hold as we both see the large appreciation potential of our area. 

Thanks for the input Theresa. We have owned the land for about a year and the manufactured home gets delivered to the lot next month. One concern I have is I believe we would have a very difficult time purchasing another rental in our area right now. Our market is on fire and there seems to be bidding wars on most everything on the MLS. We usually purchase our lots off market and even those are getting harder to find. I could look out of state for a rental but not sure I am up for that. I wouldn't even know where to start with that! :)

Hello BiggerPockets community!

I need a bit of help deciding if I should sell or hold one of my properties. This is a brand new manufactured home we are installing on a small lot about 10 minutes from our primary. The title will be eliminated on the home. We have done a few other similar deals prior to this and have sold all of them. We are interested in trying our hand at being landlords. This property seemed appealing as it is so close to our home.

We have about $250,000 in the property and could easily sell for $350,000. Alternatively we could finance the $250,000 on a 30 year loan at 3.85%. We should be able to get about $1800 per month in rent for this property.

My concern is Washington is pretty pro-tenant. I have heard rumors of a 2 year rent moratorium potentially happening here. On the flip side we have been having great appreciation in our area for years. We are also in an amazing seller's market.

Looking for opinions on what more experienced investors would recommend. Thank you!

Hello BiggerPockets community!

I need a bit of help deciding if I should sell or hold one of my properties. This is a brand new manufactured home we are installing on a small lot about 10 minutes from our primary. The title will be eliminated on the home. We have done a few other similar deals prior to this and have sold all of them. We are interested in trying our hand at being landlords. This property seemed appealing as it is so close to our home.

We have about $250,000 in the property and could easily sell for $350,000. Alternatively we could finance the $250,000 on a 30 year loan at 3.85%. We should be able to get about $1800 per month in rent for this property.

My concern is we are in Western Washington which is pretty pro-tenant. I have heard rumors of a 2 year rent moratorium potentially happening here. On the flip side we have been having great appreciation in our area for years. We are also in an amazing seller's market.

Looking for opinions on what more experienced investors would recommend. Thank you!

Hello BiggerPockets community!

I need a bit of help deciding if I should sell or hold one of my properties. This is a brand new manufactured home we are installing on a small lot about 10 minutes from our primary. The title will be eliminated on the home. We have done a few other similar deals prior to this and have sold all of them. We are interested in trying our hand at being landlords. This property seemed appealing as it is so close to our home.

We have about $250,000 in the property and could easily sell for $350,000. Alternatively we could finance the $250,000 on a 30 year loan at 3.85%. We should be able to get about $1800 per month in rent for this property.

My concern is we are in Western Washington which is pretty pro-tenant. I have heard rumors of a 2 year rent moratorium potentially happening here. On the flip side we have been having great appreciation in our area for years. We are also in an amazing seller's market.

Looking for opinions on what more experienced investors would recommend. Thank you!

Will do Jake. I know a guy that has just ordered one for one of his lots so I will be following his project closely. It will be interesting to see what it appraises and sells for. I will let you know when I hear more. 

I am curious about that too Jake. I called around to a few local appraisers here in Washington and they had never heard of this concept before. The local bank I usually use for financing thought they were like modular homes but from my understanding they are not. They use HUD code instead of IRC code which makes them still manufactured. I'm hesitant to spend the extra money unless I know that they will appraise at a higher amount. I'm hanging around to see if there are any others with experience on this. I believe the financing program is relatively new so maybe within the next few years we'll see more of these type of homes.

Thank you Paul. This information is very helpful. 

Thank you Paul. Do you know if they do indeed appraise similar to a stick built? 

Does anyone have any experience with these CrossMod homes by Clayton? We have been putting entry level manufactured homes on our single lots. But we acquired a nicer waterfront lot and were looking into these as an option. Our dealer said they are supposed to finance and appraise similar to a stick build home. Any thoughts? Thanks!

https://www.claytonhomes.com/p...