BRRRR Mobile home?

[Michael Powell]

Hey everyone, I’m new here and looking to get into my first real estate investment.  I can’t help be a little gun shy since “you don’t know, what you don’t know”

I’m eyeing a mobile home auction.  Other than title and lot land fees, what are some other potential concerns?    The community is 55+ and I’m 30 y/o but assume as long as my renter is 55 we’re good there.  I know the park needs to run background checks and stuff but just assuming I’d go through that after I have winning bid and transfer of title.

Appreciate any insight! 

[Michael Powell]

Quote from @Rachel H.:

@Michael Powell It will depend on the age and how well maintained the home is as well. Some things to look out for include: roof, hot water heater, floors (soft spots), siding, skirting and plumbing issues. 

With an auction, it can be tough as you may not be able to check out all of the systems. Personally, I would not recommend buying a mobile home for a beginner without being able to check out all of the systems and inspect the home. Usually, it's best if you can check these systems and overall condition of the home before you buy when you're first starting out. 

Another thing to be aware of is being on the same page with the park manager and/or owner. Make sure the home can stay in the park if you decide to buy it and hold. You'll need to be familiar with the application process and procedure when it comes to applying for the community. 

Just a few things to think about. If you have any other questions, feel free to DM.

Hope that helps! 

 Thanks!  Yes the unknown is always a concern but trying to include all these systems in the overall price and worst case scenario. I’m somewhat handy and fact MH is smaller seems like easier fix if something is wrong.