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Updated almost 7 years ago on . Most recent reply
Buying and selling real estate
I don't have very much money to purchase an investment but would like to buy a Mobile home, fix it up and then rent it out. The issue is I don't know what they average rental rates are for the town and if it would be worth it. This is very scary to me because I have never bought investment property. The mobile home is 4500.00 and the lot rent is 240.00. Does anyone have any suggestions?
Most Popular Reply
Melissa Mccrary treat it just like any other piece of real estate or investment: study the local RE market, study financing options, study your competition then run the numbers.
Not sure about MHP, but generally Craigslist and google is a good start for understanding local rents.
Good luck!