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Updated about 3 years ago,
Multiple mobile homes on permanent foundation
Hello I like your YouTube channel and I have a question. I found a 30 acre property that has an existing house and utilities and it's own water well. I was thinking of getting the property and installing a few nice mobile home units and renting them out. I don't want to build a park with hundreds of units because the costs would be huge. Do you think that it would be be a good investment to partition off the lot and set it up to install some units and rent them out? I figure I can give everyone a nice independent yard and a small garden park area at a decent price. My goal is to make enough money to pay the property taxes, insurance, etc.
The property is zoned for multiple mobile homes already in any Zone so I basically want to build out rentals. I can get ahold of low cost mobile homes and refurbish them in part myself. Rentals are going for 1500.00 all day long. I know it will take some time to cash flow, but I figure I could build lets say 10 units over time. If I put half the money up a month for future repairs and general maintenance costs like landscaping I would have 7500.00 a month for income. Each unit would be on 1/3 acre. I know it sounds like I want to build a park but I don't. I just want to build about ten 3 bedroom units that I own and operate. I believe over time it would be a great opportunity. I live in California in rural area. Any suggestions or advice would be greatly appreciated.
thanks and happy holidays,
Roger