Doublewides on permanant foundations

[Chris Parker]

Anybody buying doublewides on permanant foundations? What are the benefits/problems paying them?

[Mike Matthews]

Originally posted by Chris Parker:

Anybody buying doublewides on permanant foundations? What are the benefits/problems paying them?

I am sending out 527 mailers to homes at the end of this month that all fit your description. I will let you know.

I know they rent for $900.00 a month and many of them were purchased in that neighborhood for 40K. So the monthly payments PITI should only be $.450.00 a month.

I am hoping to have a $450.00 cash flow off of each one. Wish me luck.

[Jim Doine]

Chris, I've owned several of these.
-The upside: their cheaper than stick built.
-Downside: They don't hold their value or appreciate like a stick built.
-They are poorly and cheaply constructed and don't hold up well to tennants.
-If they are in a park instead of owned lot the space rent eats up cash flow.

Jim

[Rachel H.]

Depending on your end goal (i.e. buying and holding, buying to retail, etc), you really need to make sure you know the market so you know your exit strategy will work. Hope that helps!

[Mike Matthews]

Welp that mailer sucked, did you find out the info you needed?