Mobile Home / Modular Good Deal ?
1st of all I am new at this. So any advice would be great . I have a chance to take over payments on a 1997 modular home . Here are the details .
2 bed 2 bath in great condition .
1100 sq ft.
about 8 years old.
In a good park .
Remaining balance is about 30,000 .
It is 68x16 modular home.
Ok my advice on this unit.
If I understand right we are looking at a 1997 16x68 I think you said MH.
You are saying this Mobile Home has a balance of $30,000 on it ........ and you have a chance to take over payments.
First let me point out that Mobile Homes are great investments ... I invest in them weekly in some cases almost daily but they are not long term investments.
As far as taking over payments let me assure you their are hundreds if not thousands in your area and I dont even have to know where that is to assure you that you have that many that would love for you to take away their burden.
The value of this Mobile Home I assure you is not worth 30,000 in fact I am buying 2000 model 16x80 units for around 7 to 9000 all the time.
I assure you I could buy this one or one like it I mean for around that too. SO my advice on this is walk away but dont walk away from Mobile Home investments. I am amking more than a living I assure you with Mobile Homes.
They are a great investment and source of income.
MarkB