Is This For Real?
Hello everyone!
I am a single family home investor and new to mobile homes. Can mobile homes really be purchsed for 5k or less as it states in deals on wheels? Any other reccomendations for further education on mobile home investing?
Thanks for your input
John
Suggestion...turn off the PC, start driving through some MHPs around you and learn what the older, smaller MHs are really selling for.
You'll see FSBO signs and RE Agents' signs, and if the price isn't posted, their phones work.
You'll learn more that way in an hour or two than reading on any website for a year.
Although you may live in a very pricey area, in lots of USA, older SWMHs can be found for $500 and up.
First one I bought I paid $3000 for, and realized shortly thereafter that I could probably have had it for $1500...and sold it in a couple of months for $7500, with $1000 down...and the buyers are still making their note payments right on schedule.
Hey guys thanks for the reply.
John your absolutely right! I am on a mission to drive all of the parks in my area and get educated.
Thanks again
John
Yep....I know of many people who have bought or sold them at less than $5000.
I have 22 of them that if I sold them I'd be lucky.... Darned lucky to get $500.00 each. But... they all bring in about $275.00 per month.
Good Luck,
Shawn(OH)