Looking to buy a MH in Chula Vista

[Carlos Caloca]

Hey BP so my sister has a friend selling a MH in Chula Vista for $20 k single wide rent $500 a month I was thinking on making an offer originally it was a 1/1 however the husband is a contractor and built a second room so now it's a 2/1 My question is should I buy and rent or should I flip it?

[Dan H.]

Originally posted by @Carlos Caloca:

Hey BP so my sister has a friend selling a MH in Chula Vista for $20 k single wide rent $500 a month I was thinking on making an offer originally it was a 1/1 however the husband is a contractor and built a second room so now it's a 2/1
My question is should I buy and rent or should I flip it?

 I personally do not think the margin is there for a flip.  I suspect the margin is not there for a buy and hold but I would need to know what the park rental fee is to determine that.  In general, MH do not appreciate.  Most of the rent appreciation goes to the MH park fee (i.e. the land).  So in some ways it is similar to long term buy n hold in an area with no appreciation (i.e. even if it has cash flow today in real terms it will only go down (taking into account inflation)).

@Justin R. last year did a successful flip of a mobile home in San Diego.  It was larger and in a nice location (nice for mobile homes) with a nice (real nice for MH) lot.  You can search for his summary post.  He made money and learned some things but I do not know if he would do it again (maybe he'll respond).  I suspect that he can tell you more about the process than most others seeing that he did it recently in a nearby market to your target property.

Good luck