Buying A $30k With Tenants Still Staying.
I just wanted to get a little bit of advice if possible. I'm not really a fan of trailers, but it's only $29k and the tenants will stay with a new lease once purchased. The current rent is $400 per month and they pay utilities. This one just seems to be an easy one considering they plan on staying, but I really don't like trailers. I know there's always exceptions to rules, so I just thought I'd ask. Oh, one more thing, the appreciation for the area has been tremendous in the last few years due to incredible growth.
G.Smith
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Buying my first piece of property........................PRICELESS!!![ Edited by gncsmith on Date 04/05/2004 ]
Is the trailer on its own lot or in a trailer park? This is a key in what a trailer is worth.
The trailer is on it's own lot on a street of houses with it being the only trailer on the block. The block isn't the best neighborhood, but it's had a few cheaper homes coming up that has potential for rehab. and a couple within about a 4 block area that have been already rehab'd. I actually have another house in mind as well just down that street, if I could just get them to lower the price a bit more.