All Forum Posts by: Rafael Paz

@Aaron Hollingshead Good to see someone else investing in SE NM. I live in Artesia, NM and I was weary of investing here when I moved here a year a half ago. What eventually drew me to invest was the lack of rentals & updated properties on the market.

The lack of competition is also a perk since you can find distressed properties relatively easy.

PM me if you are interested in getting together to discuss investing in SE NM.

Rafael

Hello, This is my first post on BP but have been a long time follower/reader. I live in a small town in New Mexico and have experience doing a couple of BRRRRs. While looking for my next SFRs, I ran a cross a well maintained double-wide mobile home that has been sitting on the market for a while. I decIded to get creative and try to find a piece of land that I could move the mobile home to and either sell or rent. Luckily, I found a great location at a town 35 mins away that is selling only to “double wide mobile homes” with utility hook ups ready to go. The rough numbers looks like this: MOBILE HOME PURCHASE PRICE: $27K LAND PRICE: $9.5K RELOCATION: $5K REHAB/REPAIRS: $2K HOOK UP COSTS: $1K TOTAL= $44.5K Range of double wide mobile home value on street: $70k - $115k My question is, has anyone had experience with mobile homes and how they are inspected/appraised? What potential issues arise when doing something like this? Thanks for your input!