Land Lease: What are the advantages and disadvantages?

[Vince Espiritu]

Hi fellow BP members! 

I'm fairly new in Real Estate Investing. I'm mostly interested in rental property investing. As I was looking for properties in Irvine, CA and nearby markets, I have come across this property that seems to be in good condition and fits my preferred price range. However, it was listed in the description that there is a Land Lease Fee. I am assuming that I am only purchasing the house but not the land. It seems that this property is a mobile home. As a new investor, would you be able to give a piece of advice on whether it's a great idea to invest in mobile homes without owning the land? Or should I completely avoid this?

Thanks!