All Forum Posts by: James Cress

Pros/cons of investing in mobile homes for rentals.

Looking for investment groups near pikeville, kentucky.

1977 doublewide trailer given to me because the owner didnt want to put in the effort of repairing it. Fixed it up with about 1000.00 in 2009 rented it out to the same tenenant for 5 years at 500/mo then rented it for another 5 years at 750.00/mo. Now putting 3500.00 into it for repairs from previous renter plus upgrades and will soon be renting it at 500.00/mo again.

@John Teachout oh ok. So is it profitable to rent to section 8? Do you have to cover the utilities out of the rent payment or does the tenant cover that?

@John Teachout mostly renting to section 8. Im not sure what REO's are. Im new to the whole real estate gig and trying to lay groundwork to expand my portfolio.

Has anyone dabbled with hud? Is it a good idea to go this route or would you have bigger cash flows renting the more traditional way?

@Kyle J. Ok so buy and hold then i can use some of the equity within a few months to help purchase the 2nd

@Mark Durham thank you for the response. What i meant was if i could find a lender to lend the 32k would i be able to immediately use it to purchase perhaps maybe another 25k home.

Im thinking about investing in a 25k single family home thats actually valued at 57k. Will i instantly have 25k usable equity?