Should I buy a mobile home to live in?

[Chris Hall]

I have minimal experience in real estate (only one sell), but I continue to educate myself with almost every second of every day. I continuously stream audiobooks on the way to work, at work, on the way home, while doing chores at home, etc.

The more I educate myself, the more I'd like to live more frugally to put my money towards investments.

My situation is different than most. I make good money (I'm only 23 but make $25/hr) but I'm in a contract position, and my jobs stability is a little sketchy. In the last 3 years I worked this job, was laid off for a year due to lack of work and worked in a warehouse for $13/hr after going 6 months without work, and now I'm back where I was originally. So in 3 years, ive only worked a solid 2. So I'm sure you can see my concern with financing a home.

Also, I didn't go to college (I think it's more of a business than anything depending on your degree) so for me to make this kind of money where I am is rare. I can't just go find a more reliable job.

With that being said my parent's own a parcel of land beside them that they said I could put a mobile home on. Is this a good decision?

A newer home can be bought and taken to their property for about $30,000. I think if I paid this off asap and was living rent free, it would be easier for me to start my real estate endeavors. What do you guys think?

[JD Martin]

If you can get titled to the land, aside from having a place to live for low cost, if you move you can rent it out. If not, then you have your property on someone else's property. And if you have to move for work, what do you do with the mh? 

I would consider it for sure if you can get titled on the property. Otherwise, I would house hack a duplex or triplex.