All Forum Posts by: Logan Caudill

I stumbled across https://www.biggerpockets.com/topics/220562 this post that had me intrigued, and more so, wanted to ask more questions without piggybacking off of someone else’s question.

Someone commented about the best way to do this would be to buy a piece of property and put trailers there.

Which was my idea. I had plans to buy an acre to start with that can accommodate between 5-6 mobile homes and after income starts with that, and then purchase another bigger lot to put more on it.

To give more insight, I’m in western Kentucky and trailers/trailer parks aren’t a big problem and don’t carry a huge stigma with them, so saying I purchased decent single wides for fairly cheap that just needed updating, would this really seem profitable at say $450/month for 2/2 or 3/2 mobile homes?

*note: not trying to be a trailer park and collect lot rent, more of just creating a trailer park and rent the trailers out with the nice lot of land to make it atleast look more appealing to potential renters*

Thanks!

@Mark Fries That was my original plan, to live in it, but decided it would be easier to start investing in rental properties while I still can. I appreciate everyone for the help and for the support!

@Rachel H. Thanks! Will definitely make sure everything's in working order.

@John Beck In terms of what the land is worth, I'm not sure. I'm very young to the game of renting and life itself really, I know that the grass is grown up a lot and I'm unsure if that will cut down on the true cost of it, but I assume roughly $3000-4500 for the 1.25. The trailer itself wouldn't need a ton of work. My rough estimation is $3,000 in renovation, that includes the side skirting and siding and carpet and new laminate in the kitchen. I'm thinking if I could get it bought and fixed for under $10,000, $525 is very profitable.

@John Beck Around here, for a 2 bedroom 1ba with decent land is roughly $525-$575, I would be on the lower end since it is smaller. Considering it's abandoned I don't think it would cost too much really. I haven't sold a vehicle yet but would be willing to sell a vehicle and have at the least $2500 to put a down payment on it.

Hey BiggerPockets! To financially stabilIze myself, I'm living with my grandmother for the next year or so (until my 21st birthday) which is great for both because she needs help with the house work for health reasons, and I need to save money for something I think has potential, but want some advice on. Down the road from my grandmother, there's a decent looking trailer on a decent lot of land, roughly 1.25+- acres in a very good area, about 4 miles from town, 2 miles from 2 different schools, 6 miles from the state Parkway. I estimate the size to be 14x52, and it's been abandoned for the better part of 2 1/2 years. It would need new siding and skirting, and some updated interior, but I've been inside it and it looks fairly decent! Great living room, 2 decent size bedrooms and a nice big bathroom. The lot is grown up quite a bit, it would require a bush hog but I luckily have connections down here in Kentucky. The question is, would you think it would be worth it to save money up for a trailer that shouldn't cost no more than $6500 to rent out to someone, or am I better off putting it elsewhere? Any help is appreciated! Thanks BP!

First and foremost, hello everyone! New to the forum. I'm 20 years old officially today, and have been thinking heavily about renting out properties for the last two years. My question is are there landlords that own 250-500 or even more properties, or who earn $1,000,000 or more a year through their properties? I understand at this point you'd need a property management company or know a lot of handy men in a lot of places, it's more out of curiousity. I understand it would take a lot of work to get there, but I hope I would be able to get there eventually! Thanks to anyone who responds!