Mobile Home Investing In Silicon Valley
Hi, I am new to real estate investing, and I am looking to buy properties that will generate enough income to make the transactions little or no money down. Living in the Silicon Valley, I can't really find condos, not to mention SFH's, that will generate enough income within 30 miles. Searching on realtor dot com's website, I am first exposed to MH's that could possibly allow me to do no money down transactions.
MH's listed in this area are anywhere from $75k to $200k. I was wondering if any of you could comment on the following:
1) Would it be easy to find renters for MH's?
2) Would I have any problem selling it later?
3) What other potential legal or business problems could I run into as an owner of the MH?
4) Where can I learn more about MH investing (books or websites)? I am reading every post in this forum, and it's been extremely helpful.
Thanks.
[ Edited by braveliquid on Date 07/02/2003 ]
Lonnie anderson, he is the king of writing mobile home how to's. Also the TCI bookstore here on the site should www.help.The best way to run your business depends on you. Some people will do better at renting, others at flipping. You will need to hit the books and figure out what will work for you
Good Luck,
Kyle
woops I meant lonnie scruggs. you can tell where my mind was, back in wkrp in cincinnati
Hello,
I live in san Jose and I also just started trying to invest in Mobile homes. Please contact me and so we can share information.
**Please See My Profile**
Sean
Hello John Locke
I have an opportunity to buy a mobile home for 25k-30k in san jose. The seller is desperate and needs to sell by next weekend. He originally was asking 65k and now is asking 45k or lower if all in cash. I want to flip this property:
My selling price: 50k
My purchase price 25k
holding costs 800.00 per month for 3 months max for rental space and utilities.
marketing/advertisement $200
Profit $22,400
The mobile home has granite counter tops, tile floors, 2 bdrm 1 bth walk in closet about 950 sq ft.
What is my next step? I have the money to give them but I need to create the contract? any help would be greatly appreciated!
Thanks,
Brian