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Updated over 7 years ago,

User Stats

66
Posts
21
Votes
Justin O'Malley
  • Lakewood, CO
21
Votes |
66
Posts

Livin the double wide dream? Does price even matter?

Justin O'Malley
  • Lakewood, CO
Posted

I'm very new to the investing game and my ideal goal would be to purchase a multifamily unit and live rent free. Unfortunately that doesn't seem realistic yet because I have almost no savings just out of school and I live in Denver where home prices are soaring. My next option for a starter investment is a fixed double wide unit that is listed for 45k. According to my estimates the property should be closer to 30k so my questions are:

With a mortgage that only requires I pay $250/mo does the final price matter that much if its only going to be a $40/mo change?

Are there any major pitfalls getting into an investment strategy using a double wide?

Rent could be upwards of $800/mo so is the cash flow enough to make this a good investment no matter the price?

Any and all thoughts, tips, or WARNINGS are extremely welcome!

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