Purchasing mobile home rentals (not the park)

[Paul Georgia]

I have an opportunity to purchase 13 mobile homes for about $100k (I'd probably offer less) that average $450/month rent, so revenue would be a little under $6000/month. The mobile homes appear to be in good shape (I haven't seen them in person yet) and have a solid rental history in a decent location.

I would just like to get some opinions from experienced investors on the quality of this investment and what to watch out for.

[Paul Georgia]

Originally posted by @Nathan Gesner:

I need to know what your expenses are. If they rent for $450 but lot rent is $125, then your numbers don't look as good. I would also question the condition of the trailers if they're selling for $7,700 each. Pictures can be deceiving and trailers have a lot of hidden problems like weak floors, leaking roofs and windows, breaking water pipes, and more.

Your numbers look great, but there are a lot of questions to ask before diving in. Not all that glitters is gold.

Agreed, Nathan.  I do have a lot of questions for the seller agent and will definitely see the trailers before purchasing.