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Updated over 7 years ago on . Most recent reply

User Stats

154
Posts
34
Votes
Melody Everett-Neddo
  • Quality Technician in a CNC Machine Shop
  • Rapid City, MI
34
Votes |
154
Posts

Mobile Home in Northern Michigan

Melody Everett-Neddo
  • Quality Technician in a CNC Machine Shop
  • Rapid City, MI
Posted
Does anyone think buying a mobile home is ever a good idea? Found one near me that looks like a fairly good deal, if the numbers crunch well, that is? .... Details are 4 Bed, 2 Bath, Steel roof polebarn type add-on family room (so part of it basically has a new roof, as they built the roof overtop of at least 1/2 the mobile), along with a 1 1/2 car polebarn garage on an acre. Inside has been remodeled completely in last few years, photos look great, but I have not walked thru. I am semi interested for a couple possible scenarios......First, Buying as a temporary home for us while we attempt to sell this house? Then option 2 or 3 after that? Second, Buying as a rental? Third, Buying to resell under Land Contract (again...numbers would have to impress me here). The area is poorer than other areas close by and this would probably be a B-C property in a D area? I want to do some investing of course, but am having the thought-line lately that we should buy a different house ourselves before we actually jump into an investment property. Only bad thing I can see here is if we buy this, then cannot sell our old house, alot of my investing money will then be tied up.   
So my questions are:     What questions would go thru your head if you were the one considering this?  Seriously....Hit me with all of them.    What percentage gain/ instant equity would make this favorable to you as an investor?

Am I wrong to be considering our future need of a different home before investing?

Thanks for reading and contributing your genius to my inexperience.

Melody

  • Melody Everett-Neddo
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