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Updated over 8 years ago,
Mobile home investment
Hi y'all! I want and need YOUR opinion. There is a mobile home across the road from my mom, has been sitting empty for about a year now, the people that own it lived there for a long time and own free and clear. I heard they were asking $3,000, motivated to sell because they have to keep up on the lot rent $300 mo/. This would be my first investment, was looking to buy and hold it for a long time. Rent it at $650 includes lot rent and have a $350 positive cash flow. The place does need power washed on the outside, a small piece of skirting and back steps. No big deal.
What are your thoughts?
Thank you!