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Updated almost 7 years ago,
Good Idea:Starting out with Mobile Homes in Northern California?
Hello,
First time posting here, I am a recent college grad living in the Bay Area. I'm interested in using real estate investing as a means of income diversification. I don't have much capital around $30K and so I have been looking into potentially investing in a mobile home in the Santa Cruz or Sacramento area (bay area is simply not feasible).
I am interested in understanding how to evaluate a mobile home compared to a more traditional home. For example do you immediately apply a discount factor when you see mobile homes, if so what would be a good number? I am looking at this as a means to get my feet wet in REI, would you suggest staying away from mobile homes as a first time buyer or encourage it due to their lower price (and therefore risk).
Any insight is super helpful --- thanks!