New Landlord in Boyd, TX (20 miles West of Ft Worth)

New Landlord in Boyd, TX (20 miles West of Ft Worth)

Investor · Boyd, TX · Member since 2014 · 688 posts · 467 votes

Hello all.  My name is Paul Ewing and I became a semi-accidental landlord in early 2012 when I bought the farm across the road from my that had a house and an older (1970s) singlewide.  My wife didn't want to move to the house so I am currently renting them both out.  I had very good luck with the singlewide after doing about $1500 in repairs and have had the same tenants in it since then.  I had several "learning experiences" with the house and tenant selection and management.  I now seem to have gotten a good one in the house. 

I am in the process of adding two more doublewides to a section of the land and getting them set up and renovated.  I am aiming for the middle and upper working class demographic and aim to keep all the properties at a level I wouldn't mind living in them.  This aggravated the guy that I had doing property management because he seemed to naturally drift towards to slum lord do the minimum possible mindset.   

I am looking to expand my real estate investment with other similar places in the area and in the next five years have a large percentage of my income from passive rental income. Being in the exurbs of the Dallas/Ft Worth metroplex means that we have lots of doublewides on one acre lots that are potential rental units. My parents had picked up three in 2012 for very good prices through HUD and an individual investor but it seems that the number of properties has greatly decreased and prices have doubled in the last year so I am doing a lot more looking.

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  • Real Estate Investor · Fort Worth, TX · Member since 2014 · 21 posts · 1 vote
    12y

    Hello Paul, Welcome to Bigger Pockets. I am an investor in Fort Worth and wanted to suggest you check out podcast 75 on mobile home investing. You may be able to gain some valuable insights from this podcast and you might want to talk to the fellow who is doing the podcast that specializes in mobile homes. He happens to live in Austin.

    Good luck to you in your real estate investments.

    James

  • Real Estate Agent · Weatherford, TX · Member since 2011 · 726 posts · 284 votes
    12y

    Howdy Paul! From Weatherford.  I like your style...don't slum lord the mobiles on land.  You can make some pretty good rent if you keep them nice :)

    Many people like the space and don't mind the "stigma" if they're kept nice.

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