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Updated about 6 years ago,
Mobile homes insights?
Hey y'all. Newbie here. I've been soaking up all the info I can about REI over the last months and one thing I don't hear about often in mobile homes. What I've gathered is that they devalue much faster than normal houses, and maybe don't sell well? Anyways I've seen a lot of mobile homes for sale much cheaper than normal houses, especially the ones over 20 years old. One listing I've been eyeing lately is a single wide built in 1992 and its selling for much less than similar properties are. I would be looking into renting it and having cash flow.
So I was wondering why they sell so cheap once their old?
Are they notorious for falling apart and deteriorating once they reach a certain age?
Would repairs typically be abnormally high compared to normal homes around the same age? (thus making the up for the cheaper paying price for it)
I haven't heard much about that but I can't figure out why else these old mobile ones sell for so cheap around here.
Any insight is appreciated as I said I'm quite new to this realm and just trying to learn all I can. Thanks!