Buy and rent out mobile homes in a trailer park

[Chad Lowans]

Hey guys i was wondering just how would i go about this i wanna buy a few double wide mobile homes that are located in a real nice trailer park located on the out skirts of my town in Pennsylvania and are only going $20,000 or less and the lot rent is only $350 a month so i was thinking of renting it $800 a month ( just cuse ive seen a few horrible duplexes being rented out for $700 with familys already living there) these homes wouldnt be anymore then just a steady income for the next investment home is this a good idea to go with or is it a horrible way to start.

[Rachel H.]

The first thing you need to do is get to know the park manager and/or owner. Find out as much as you can about the community and the type of clientele they work with. From there, learn the market and then decide if you want to pursue it. 

If there's a lot of demand for this type of housing and the numbers work, it may be a good opportunity. Above all else, be sure you work with others who fit well with your personality. 

Good luck!