I have been interested in buying and selling real estate, and have been reading up on it. There are alot of mobile homes in my area, and they usually go for a low price, and only need just a little money to fix up. This looks like a good way to build my credit and get some experience and money at the same time for bigger projects later on. Since I'm a beginner though, I wanted to get some advice from the more experienced guys on here. I'm beginning to realize that even though I'm close to graduating college, I'll still be a slave to a paycheck when I graduate, and what kind of life is that?
Mobile homes, real estate for beginners?
- Thread starter jmeredi
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cave dweller
Master Don Juan
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homes.........
Hey,
creonline.com has a message board dealing with mobile home investing.......
cave dweller
Hey,
creonline.com has a message board dealing with mobile home investing.......
cave dweller
penkitten
Master Don Juan
mobile homes depreciate so very fast.
Joe The Homophobe
Master Don Juan
most mobile homes don't come with the land they stand on as part of the deal, so you are only buying the mobile home not the piece of land it stands on.
Of course you could always buy a piece of land and put a mobile home there but it is more expensive. If you ain't getting the land, it ain't worth buying.
Of course you could always buy a piece of land and put a mobile home there but it is more expensive. If you ain't getting the land, it ain't worth buying.
About mobile homes not having land. Some trailor parks have mobile homes for sale and they are on the lot. And these aren't owned by the lot onwer, just the space that they are set. And a desperate seller will be itchin to get it sold, fix it up then sell it for more. Get to know the lot onwer and you could do this over and over till you save up enough to actually buy a house and start into the meat of things.
penkitten
Master Don Juan
if the mobile home is worth anything, the owner will usually buy it themselves and rent it out .
SELF-MASTERY
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Do like me my family has 8 acres of land in a very poor area. They've stopped paying taxes on it and dont give a ****. Im trying to get the land from them, and if the zoning is right I might have my own trailor park in a few years.....
SELF-MASTERY
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http://www.creonline.com/mobile-homes/success-stories.html
cashflowinstitute.com/lonnie.htm
try google and rei boards
PM sifer or str8up
cashflowinstitute.com/lonnie.htm
try google and rei boards
PM sifer or str8up
SELF-MASTERY
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Good attempt.....:woo:
You are correct.
HOWEVER....
As others have mentioned you should check out creonline for more information. There are people who have written articles there who specialize in mobile homes and if I am not mistaken they offer some course material on the subject.
I always thought mobile homes were a no-win proposition until I started reading some of the articles on how you can buy something for cash cheap and turn around and rent or sell it and make a tidy positive cash flow.
I had the opportunity to buy a mobile home on a growing highway when I first started out. It was owned by a little old lady who I poured drinks for when I was bartending. She offered it to me for $30,000 including the land. I could have EASILY rented it out for a positive cash flow. This was about 10-11 years ago. Today there is a super Wal Mart about a block away and an explosion of development directly adjacent to this property. If I owned the property in question today I could probably get at least $300,000 for it.
This is one of those deals that causes me to kick myself every time I drive by....