All Forum Posts by: Liz Lynn

I am considering buying a mobile home to place on the land I live on. Is this a good idea? What are some pros/cons and other stuff to pay attention to for mobile home rentals?

0 Votes

Greenville, North Carolina

Hi everyone! I am in the very early stages of looking at a commercial property to invest in. It is currently an abandoned cafe about 25 min from greenville, and I would love to fix it up and get it back in business. It's sitting on 1.5 acres and right off a state road in between a few big towns. The closest gas stations are 3, 4, and 5 miles away. I plan to sell convenience items as well as fresh produce, baked goods, and hot meals. I am also thinking about having rental trucks on site too. I don't know much about gas stations though so if anyone has any tips or stuff to look out for I would appreciate it as I look more into it. I am also considering just running the convenience shop for awhile and later adding in the gas station if it makes sense. TIA!

0 Votes

Greenville, South Carolina

Quote from @Jonathan Greene:

Quote from @Liz Lynn:

Quote from @Jonathan Greene:

Quote from @Liz Lynn:

Quote from @Jonathan Greene:

I use RentSpree and always ask for the $49 version from each tenant older than 18.

Awesome, thank you for sharing! Do you use their rent collector as well?

For rent collection, my clients use Azibo. I have link if you want it, it's free to use. My landlords like it.

If you have a referral link that would be great, thanks again (: Do you recommend anywhere to write a lease? I am thinking about just finding some templates online but not sure if there's a better way to go about it.

Send me a DM and I will send it to you. I don't recommend downloading leases. I would use the standard realtor lease form in your area and then look up common extra conditions landlords are using now.

Just sent, thank you!

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Quote from @Jonathan Greene:

Quote from @Liz Lynn:

Quote from @Jonathan Greene:

I use RentSpree and always ask for the $49 version from each tenant older than 18.

Awesome, thank you for sharing! Do you use their rent collector as well?

For rent collection, my clients use Azibo. I have link if you want it, it's free to use. My landlords like it.

0 Votes

Quote from @Jonathan Greene:

I use RentSpree and always ask for the $49 version from each tenant older than 18.

Awesome, thank you for sharing! Do you use their rent collector as well?

0 Votes

Hi all! Has anyone used this site for screening? Or have any other recommendations?

0 Votes

Quote from @Kristine Ann:

Quote from @Liz Lynn:

If you under contract and are getting a loan, just wait for the assessment to come back. Yes, it's possible for an aging mobile home to be worth less than 40k. It can cost 3-5K to get those hauled away. And they start at about 110k new.

I agree with @Rachel H. that the value is the utilities already on the land.

Gotcha, thank you. I really appreciate your input!! I am going to go through and see how it goes (:

0 Votes

Greenville, South Carolina

Quote from @Rachel H.:

@Liz Lynn For the trailer portion, those are pretty old homes. If the land is separate from the mobile homes, you may be able to see what the county assesses the homes if personal property.

The value may be more in the land depending how big it is and the location. If utilities are already there on the land, that's where the value comes in. It's very expensive and time consuming to develop raw land.

As for financing, you may want to look at a couple of different lenders to compare. Check with local banks and small credit unions in the area. Also, if the seller is willing owner financing may be another option too.

Hope that helps!

I'm thinking so. It is maybe 30 min from Greenville which is one of the biggest cities in SC. Within 15 min from grocery stores/gas stations and not near a lot of traffic which is really all we want lol. Its 4 acres and I can't really figure out how to decide how much it should be priced for but am looking at an average of 10k to 50k per an acre for unrestricted w utilities. On the higher end of 50k that would put land a bit above 200k. Is it even possible for these homes to value 75k+ together? Other properties are showing high costs, but I'm not really sure how to get good comps with this situation

1 Vote

Greenville, South Carolina

Quote from @Kristine Ann:

Where did you get that number? An official county assessment will breakdown the value of the land from the buildings.

There should be whole report from the tax assessor or county clerk’s office. It’s about two pages long. It lists the current owners, any improvements on the land (houses, sheds) and the condition of the improvements. It will clearly show the assessed value of the land and the assessed “full assessment” which includes both land and improvements.

The number came from the county website, but it didn't have any pages of info linked. Maybe I have to request them in person?

1 Vote

Greenville, South Carolina

All Forum Posts by: Liz Lynn

Liz Lynn has started 13 posts and replied 36 times.

Post: A Hard Lesson Learned from Our 2022 "Scary House" Flip

Post: Mobile Home Rentals

Post: Gas Station Tips?

Post: Tenant Screening Tool

Post: Tenant Screening Tool

Post: Tenant Screening Tool

Post: Tenant Screening Tool

Post: Acres & Trailers

Post: Acres & Trailers

Post: Acres & Trailers