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Updated over 3 years ago on . Most recent reply

User Stats

54
Posts
35
Votes
Sam Collins
  • Investor
  • Houston Texas
35
Votes |
54
Posts

Would you purchase these manufactured homes?

Sam Collins
  • Investor
  • Houston Texas
Posted

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. 

  • Sam Collins
  • Loading replies...