Mobile Home Unit....Subject To Or Lease/Option:
I have a possible deal here but of course i'm new and right now, not sure what's a deal and what's not, so i have a few questions for you experts or semi-experts....1) are mobile homes good deals to get into?....2) i have a customer who just wants out of mobile home, has owned for 1 yr and wants to sell for what he owes on the property ($35,000).....payments are $651/mo., 3 br, 2 bth, nice neighborhood, structured in '99.......would this be a good deal on a sub2, a lease/option or just one to walk away from, could i flip it and if so, for how much.........need answers asap!!!...thanks in advance
MH Parks are a good investment. There are hundreds of reasons why, but here are a www.few.The main reason being is that the normal cap rate is usually higher than apartments. Secondly the replacement of a mobile home (used) is cheaper than a house. Thirdly Lot rent got to love all the aspects of that. Try reading Earnest Tew, or lonnie scruggs they will convince you on the fundamentals of Buying Mobile homes.
Your question about whether it is a good deal or not cant be answered. You will need to look at it and figure if you are going to make money or not. If you are new I suggest a short sale less liability, problems, and hassles, And quick money.
Good Luck,
Kyle
Quote:
On 2003-07-24 22:25, rbw4 wrote:
I have a possible deal here but of course i'm new and right now, not sure what's a deal and what's not, so i have a few questions for you experts or semi-experts....1) are mobile homes good deals to get into?....2) i have a customer who just wants out of mobile home, has owned for 1 yr and wants to sell for what he owes on the property ($35,000).....payments are $651/mo., 3 br, 2 bth, nice neighborhood, structured in '99.......would this be a good deal on a sub2, a lease/option or just one to walk away from, could i flip it and if so, for how much.........need answers asap!!!...thanks in advance
[ Edited by KyleGatton on Date 07/26/2003 ]
Mobile homes are good rental units. I would buy if you could get with property. If I had to rent the land I would walk away.