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Updated over 6 years ago, 08/11/2018
Buying an abandoned single wide?
Hey BiggerPockets!
To financially stabilIze myself, I'm living with my grandmother for the next year or so (until my 21st birthday) which is great for both because she needs help with the house work for health reasons, and I need to save money for something I think has potential, but want some advice on.
Down the road from my grandmother, there's a decent looking trailer on a decent lot of land, roughly 1.25+- acres in a very good area, about 4 miles from town, 2 miles from 2 different schools, 6 miles from the state Parkway. I estimate the size to be 14x52, and it's been abandoned for the better part of 2 1/2 years. It would need new siding and skirting, and some updated interior, but I've been inside it and it looks fairly decent! Great living room, 2 decent size bedrooms and a nice big bathroom. The lot is grown up quite a bit, it would require a bush hog but I luckily have connections down here in Kentucky.
The question is, would you think it would be worth it to save money up for a trailer that shouldn't cost no more than $6500 to rent out to someone, or am I better off putting it elsewhere?
Any help is appreciated! Thanks BP!