first time buying an older single wide in a park

[Alex Elliott]

I have a chance to buy a single wide 1970s mobile home for a few hundred dollars. It's in a park, has some plumbing and floor issues needing fixed. I am new to investing and curious as to what strategies could work with a deal like this, or if it is even worth it?

[Jeff Copeland]

@Alex Elliott - I don't really deal with mobile homes, but keep in mind that in a mobile home park, you'd only be buying the trailer, not necessarily the property or "lot" that it sits on. Most parks have "lot rent" that is a few hundred dollars per month, and may or may not include utilities.

Be careful that your seller isn't giving away their mobile home just so they can get out of their lot rent (and saddle you with it instead).