All Forum Posts by: Alecia S.

@Melvin Maxwell

I would not waste your money. The problem with home warranty companies is that you cannot choose who does the work all of the time. I had a few with initial properties, but have found I do better finding quality local workers to take care of jobs when I have problems.

I am trying to invest in a new out of state market. I asked my realtor for rental comps for the area and she told me she cannot provide those because she is not a property manager. My realtors in other areas have provided these for me with ease. Should this be a red flag?

Sure would love to be apart of the group.

We looked at them and the seller gave some good info. They are all double wides with shingle roofs built in 1998 except for two singles (not in the greatest shape) Property taxes are $1950 A year For all of them. All on separate parcels. The seller has a couple of maintenance guys to keep up with repairs so we wouldn’t have to find anyone. They have put new flooring in most of them and seem to been keeping up. They look in good condition on the outside. We were able to go into one that was getting ready for a new tenant and it was not bad. All the other units are similar in layout. They are always occupied so no vacancies. Seller looking for different type of investment so wanting to sell. They have given all serial numbers and manufacturing data for each one. Need to find out about AC or plumbing issues. Know there are maintenance issues with these always but with a strict inspection schedule you can avoid most “catastrophes”  My husband grew up in a trailer so these don’t scare him. The biggest issue is the distance from where we live. About an hour and a half. Thoughts...

Hi Frank,

Thank you so much for the reply,

You are correct, it's not a trailer park. It's 9 lots with trailers. Seller owns both the lots and trailers and rents them all between $600-$750 each.

So if the trailers get "married" to the land and get treated like 9 single family properties then we would see how the 30K looks compared to other mobile homes on land, is that right?  I know most of the comps for trailers on properties for sale in that part of the state are about 60K-70K and up. Knowing that, how does this deal look using the numbers from the initial post, assuming the trailers are in decent condition? We will look at them tomorrow. Thank you again for the comments.

Hi Frank,

Thank you so much for the reply,

You are correct, it's not a trailer park. It's 9 lots with trailers. Seller owns both the lots and trailers and rents them all between $600-$750 each.

So if the trailers get "married" to the land and get treated like 9 single family properties then we would see how the 30K looks compared to other mobile homes on land, is that right?  I know most of the comps for trailers on properties for sale in that part of the state are about 60K-70K and up. Knowing that, how does this deal look using the numbers from the initial post, assuming the trailers are in decent condition? We will look at them tomorrow. Thank you again for the comments.

Thank you for info. I am going to walk the property this week and will PM you after I see the property.

Property taxes are 2340 a year.

I have come across a trailer park deal involving 9 double wide trailers on 1/2 acre lots each. There are six lots together and three down the street. Combined rent of all double wides is 5900 per month. The asking price for the properties is 250000. They have separate meters and septic tanks. They are near a military base with good schools and have been well maintained. Tenants are responsible for yard maintenance. What do you think of this deal? Do you have any books/ info on trailer park investing that you would recommend? 

@Miles Stanley

I have done 2 deals with all cash and then refinanced to put mortgages on properties. This is not correct. Check other lenders