The Down Side To Mobile Homes
One thing that I see that can make mobile homes hard is you got to pay a lot rent every month (unless you own the land) despite if you have tenants or not. Have any of you figured out any creative ways to beat this or is it something you just have to budget for. The reason I ask is Mobiles around here only rent for like $250 - $400 a month and when you subtract your lot rent profit seems scarce, also if the trailer sat empty for several months your just throwing money away.... I might just be having new comers fear to investing in them.
Thanks cheryll for pointing me in this direction (hope I somewhat came close to spelling your handle right, I had to remember it off the top of my head lol)
gyva --
Well Hi --
The best return on mobile home investments that a lot of being are doing:
1) Buy cheap
2) Fix it up
3) Sell for 2 to 3 times what you paid ... but at market value or slghtly less
4) Offer low down payment OR
5) Sometimes buyers have a lot of cash (several thousands) but not enough to pay full cash
6) Owner finance at 12-14% interest on any of the options #4 & #5.
7) The new tenant then will be responsible to the park for the space rent.
8) Do not try to just rent the mobile home out.
Cheryl Lopez[ Edited by cheryllopez on Date 08/06/2004 ]