All Forum Posts by: Account Closed

@Clayton W McGehee I sent you a direct message.

 The main issue with the insurance is if you are in a hurricane area with a trailer, which in Jackson County you are. One trailer that I seller financed, the owner was able to get insurance through Coastal Insurance in Gautier. You might call them for a quote.

@Clayton W McGehee btw I know a lot of people that live in the mobile home areas in Gautier, I could text some of them and see if they know of any for sale. Let me know.

@Sharon B. for us, in that area, a decent mobile home will be at least 15k (and that is getting a really good deal!) and a small parcel in one of the areas that allows trailers could go for about 2500 to 5000 in my experience. It is not unheard of in Jackson County to find a crappy mobile home on land or even a crappy house on land for 10k.

@Clayton W McGehee some things to consider... I have two trailers in Jackson County, MS (Gautier). Are you planning on buying land with the trailer already on it? If you are planning on buying a trailer and moving it in be aware that Jackson County has gotten very strict on moving trailers in, they have to be up to a certain standard of appearance, wind rating, etc. and they have to be inspected by the fire marshall. The city of Gautier also made me pour a concrete driveway and add decks on to both doors to the trailer that I moved in. All of those things add up to way more than 1000 bucks. It still ended up being worth it, but at the time those were all surprise expenses to us. I will say that Colonel Mobile Home Sales in Hattiesburg has a lot of trailers for good prices. As far as trailers as a rental in general, they cash flow great, just be sure to do thorough tenant screening, verify income, etc.

 This has happened to me... some real estate agents make offers or counters verbally or by text etc. but I have learned that you have to have it in writing because unfortunately a lot of people's "word" or handshake is worthless!

 You won't lose your earnest money if you back out during the inspection period due to things found on the inspection. 

Make sure when you put in an offer you have an option period and get the home inspected. That way if it's too bad you can get out. If I were you I would get the book on estimating rehab costs so you have a general idea of what it will cost to repair. That book is well worth the money. Honestly every contractor we have run into so far has tried to rip us off so I have hired a handyman that can do all sorts of work and an electrician on my own. I guess I'm the general contractor now lol.

Mike, business is business! She might be the nicest person in the world but if she can't jump on listings in a market like that, you need a new agent. We dealt with the same thing and went through about 5 agents before we found one that will act quickly when necessary. 

@Larry Spradling I agree with @Caleb Heimsoth, I wouldn't take ANY advice from the property manager! I'm sorry that you are in this situation. I am not an expert but I would consider this: take the property back under your control and find a way to raise the rent enough so that you are not in the negative. Look back at that appraisal you got when you got a loan and see what that says and consult a real estate agent in the area to get real comps. And don't be so hard on yourself for screwing up, a lot of money will pass through your hands in this lifetime! Good luck!