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Updated about 10 years ago,
Mobile homes vs houses under $30,000
Hi; I'd like to take a moment to compare mobile homes against low-cost SFRs under $30,000 .
Lisa Phillips has great podcasts on investing in $30,000 homes in working-class neighborhoods that don't have unbearable crime problems: http://www.biggerpockets.com/renewsblog/2014/01/23...
I've been reading her materials and it seems quite doable to find houses that meet the 2% rule, sometimes even 2.5% or 3%.
Dawn Anastasi has a similar story in podcast 29.
Based on the above, it seems low-cost houses can be found outside of war zones. I wanted to ask you guys if there are still benefits to mobile homes over these lower-cost site built homes?
One downside I see with the mobiles is having to deal with park management. Also, I'm not sure if I would be able to buy a cheap mobile home and refinance my money out of it, as it is personal property.
Thanks for your thoughts!