Due Diligence on Mobile Homes

[Katie Courtney]

Newbie here who has watched webinar after webinar on analyzing properties. I'm ready to get my feet wet. I've been watching this particular property online for a few months now, it's owned by HUD and the inspection says it possibly needs a new well, new flooring, etc. basic stuff I analyzed it at $10,000 in repairs and after other expenses, it cash flows 300-400 a month depending on different variables I have thought of. Also CoC 11-12%. This is base hit according to beardy Brandon. I won't why nobody has jumped on this yet in my area.

It’s a double wide. I want to go look at it. I’ve never looked at any properties before with my agent.

What should I look for in particular?

What are the negatives about owning mobile homes as single family rentals?

My long term goal is to rent for a couple years and then owner finance to a responsible tenant once I have paid down the mortgage. What are y’alls thoughts?

I’m interested in opinions on this topic. Investing in mobile homes NOT in a trailer park.