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Updated 4 months ago,
Renting lots to trailer owners
Hi there. I’m totally new to investing (24yr old) and I have about 10K saved.
For my first investment, I was thinking I could use my dad’s land that he owns with 3 septic tanks and 2 wells. What would be the smartest way to give us both passive income? He’s older and I’d like my first investment deal to benefit him as well.
My sister was suggesting I pay to clear off the existing run-down trailers and get my investment back in land equity. But I’d like to get a gain from this, specifically some monthly income for myself.
The goal is to rent out the lots to people who own trailers. Any tips?