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Updated about 6 years ago on .

User Stats

38
Posts
2
Votes
Richard Stephens
  • Homeowner
  • Aledo, TX
2
Votes |
38
Posts

Refianance and rent 2 mobile homes

Richard Stephens
  • Homeowner
  • Aledo, TX
Posted

Hello BP's people,Need guidance.Was looking to refi our primary residence that is a 1996 double wide mobile along with a 1974 single wide mobile that's old & rough that our kids live in thats on 1/2 acre of land and shares the water well. Appraisal district has double wide valued @ 35k and mortgage @ 65k along with single wide value @ 12k,both homes on same note,ugh ! The area were in is RITZI 250k - millions$$$, and in a highly sought after lake area.we refied in 2013 and appraised @ 90k and couldn't find comps in area had to go on other side of the lake to get comps.Planned on renting both homes,double wide @ $1400-1600 and singlewide @ $850-950.Tried contacting realtors to give comp idea,nobody calls back!!! Should I  rent them or owner fia and sell as a note (don't really wanna do,kinda wanna holdout for chance of really increasing in value of the land,like said highly sought after area.)Any ideas would be greatly appreciated.     Best Regards, Richard.S