Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Mobile Home Park Investing
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 8 years ago,

User Stats

27
Posts
7
Votes
Rae Edwards
  • Spring Grove, VA
7
Votes |
27
Posts

Mobile home - what questions to ask

Rae Edwards
  • Spring Grove, VA
Posted

Need your help BP community. I was looking through Craigslist and came across this mobile home that is located in a MHP near my house. Ideally I wanted my first investment to be a SFH or duplex, but since I am familiar with this park (have a family member living here) and it doesn't require much money to purchase I figured I should look into this possibly being my first investment. I plan on contacting the seller (it's a rural area so I'm sure I know someone who knows the lister), but with this being my first time I'm not really sure what to ask. I want to make sure I get enough info to where I can properly analyze this deal.

1. Im assuming I should ask what the taxes are on the property, what the rents are of other homes in the park (can verify through ppl I know/relatives that live there), but what else should I ask in regards to expenses?

2. Since I have to provide appliances is there a certain brand you personally use for your mobile home projects? I'm assuming I don't want to buy the top of the line equipment so that the place won't be too fancy?

3. In regards to being "fancy" if I do opt to make this home nicer than the other units will that allow me to raise rents or should I just provide the bare bones minimum for the home?

4. There's a good chance a renter will be on section 8, if so does this change anything for how I rent to them? I've been browsing the section 8 forums to gain more insight on catering to this group.

5. Can the repairs be done by general people who have knowledge of repair work (my father and brother are mechanics in the military, electrical and HVAC trained, respectively) or should I opt for contactors who specialize in mobile homes?

All feedback is welcomed, thanks in advance! Listing is pictured.

Loading replies...