All Forum Posts by: Account Closed

Take it from a different direction. Buy land with sewere/water. Put a used double-wide. Renovate it if needed. Maybe a pole-barn house? Those are becoming popular. Another idea is a steel building on slab--never worry about fire or flooding if done right. I have two lots in Nashville and looking to do the Mobile Home thing. You can always sell the MH and build a reg. house in the future. Just some idea out of the box.

I love basements especially if it can me made into a walk out. The house I like to buy is one with a basement with NO settling built into a hill. If it's unfinished, where I live, it's not considered taxable space. I don't care for basements with low ceilings though. If house is on a hill than I would not see why flooding would be an issue. You could check with your county to see where the water table may be. If the basement has a moldy musty smell, you may have issues fyi. Have a radon test done too. Also, make sure the rain water from the roof flows away from the house and does not pool near the wall. 

Why hasn't anything been built on it yet. 

Why would the auto place not buy it?

What was there before? 

Is there or was there any hazerdous waste dumped there in the past?

Does it come with mineral rights? 

Is there room to put mobile homes/RVs?

I think the numbers are too low. 

1. Real estate is okay

2. Student loans are a major issue

3. Stock market is way higher than what it should be

There seems to be a crash six months before a US election. Depends on who the market likes. 

JUST MY OPINION

Sounds like you have it under contrl. Good luck. 

I live in the Nashville, TN area. I'm looking at other cities. Nashville is booming and there just isn't much in my area of single houses anyhow that'd be decent rentals. 

One idea is to buy a house on 5 or 10 acres and subdivide the land. Live in the house and then put a used double-wide on the other partial. Rent it out. Even though you won't get a lot, if any, equity on the double, it should cash flow well. You'd have to put in septic/elect/water but if a two bed aprt. rents for 1,200 a month here or more, than it should pay for itself pretty quick. After ten years you could build a reg. house and sell the double-wide. This is my plan anyhow. Builders are swamped right now. They just can't keep up. 

Knoxville is a good market. Look at the Powell area. 

What would the raw land be worth without the MHs? They should prob. pay YOU to take the MHs. What would it cost to dispose of them if the city forces you to do that? What shape is the electric to the MHs? 30 amp./50 amp? Sewer and water lines? Cast iron sewer lines may be rusted out. Indy has a LOT of flat buildable land. What would the cost be just to start from scratch? You can usually get used singlewides on Craigs list for 5k to 10k in decent shape. Will the city let you put singles on the land in 2019. The singles there may be grandfathered in. Is it commercial land? 

51k in equity? How are you coming to this? Are you SURE it would rent for that in OKC? Is the school district good? Crime rate? These are the same question I ask myself. 100ROI = 150ROI = maybe; 200 ROI almost there but double check your numbers and ask your property management co. what they think. If you don't have one, and your new to this, get one. Learn all you can from them for a year or two. It's worth 10% to me.

Another thought: If you're working with a property management co., ask them for the better zip codes. You don't want the getto unless that is the kind of business you want. BUT, being on the other side of the world, you'd most likely want a turn key property. Look for a place in the better school districts too. A suburb of Omaha would be best I'm guessing.