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Updated over 3 years ago,
Would you purchase these manufactured homes?
Good Morning,
I was contacted today buy a local RE investor with 2 manufactured homes (mobile home) for sale. Both of these houses are in good condition and have long term tenets living in them. (6yrs) and (3yrs). The current rent is up to market value maybe slightly on the lower end but not off by much. I have the capital to pay cash for these but it will eat almost all my capital up. I am considering financing them.
Here are some of the property details:
Property 1:
- built 2018
- Central air and heat
- 3 bed 2 bath sitting on .5 acres.
- Current rent $1,100.
- Asking price $115,000
Property 2:
- Built 2014
- Central air and heat
- 3 bed 1 bath sitting on .5 acres.
- Current Rent $900
- Asking price $75,000
this will be the first time i have looked into manufactured homes so im not real sure on what all i need to be looking for or if they are even a good investment. Seems to be cash flowing very well.