Is buying a mobile home to rent out a good idea?
I can get them around where im at for under 10,000 but is it a good investment?
Thanks
Tim Case
does it come with the land? or do yo have to pay rent for the land? also what are the property taxes? I know around my area you can rent mobile homes very cheaply, about $300 per month for 2-3 BR
I don’t know…is it a good investment? What I mean is that you have to do the math. What is your goal, how much can you get it for, what are the expenses, how much can you get for rent, does it cover the expenses.
You can definitely get a mobile home the cash flow. Find a deal and then lets analyze it.
Im thinking theres lot rent, but I know around here(Iowa Nebraska area) you can rent them out for$250 - $300 for a 2bedroom and I know some people who had to pay the rent and lot rent also. I think it would be a good idea but I just wanted some imput from others.
I know I would have to pay water and trash which is
Water: $30 every 2 months
Trash: $144 a year or $12 a month
Taxes: im not sure.
where at in Neb/Iowa? Im in Sioux City
Council Bluffs, omaha
yeah, i dont know what landlords charge for rent in mobile home parks…if you can getaway with maybe 150-200 for lot rent and $200 for the trailer, you might be able to swing it.
I personally don’t like having a mobile home as a rental. I do the typical “lonnie deals”. I buy a home and sell it on a note. The home buyer is responsible for the lot rent and upkeep of the home.
If you have it as a rental, you have to do the upkeep and get all of the annoying calls.
By selling it on a note, you get the monthly cash flow without the landlord hassles.
Regards,
Patti