All Forum Posts by: Robert Smith

The girlfriend and me are actually going to check it out in person this week to see what we're getting ourselves into. And yes that may be a good technique actually as far as being just a manager. Thanks and I will def check out those books to get more knowledge

Bill Neves

Thanks for the info also. Anymore input?

Thanks for the input, it's greatly appreciated. I just offered the owner $1800 cash today so I'll see what he says. I already planned on having to do whatever repairs it will need myself. Hopefully it's not too expensive. I was thinking of maybe just getting some vinyl tile for now and installing myself just so people aren't walking on wood. Not sure how big the hole in the roof is but I'll leave that for the professionals. Hopefully not too expensive. Also I was planning on maybe just telling the current tenant to ask the previous owner for his security deposit back and drawing up a new lease for $650. I figured if I can get them to atleast stay another year I'll make my money back in about 8 months. If not I'll just live there myself and enjoy the freedom of living on my own until I do find a tenant. My main concern is should I actually go through with this? Does it sound like a good plan? I'm only 20 y/o and obviously an amateur at this but I have to gain experience one day! Also the lot does allow rentals.

Hey I'm 20 years old and live in southeastern Louisiana. I have a good job and have been able to save up a good bit of money. I found a local selling his mobile home for a really cheap price ($2500). It's currently in a nice park where the rent is 300/month. Its 65x14 also. The guy said it had all the subfloors replaced with plywood and it needs new flooring/carpet. Also roof had a leak he repaired but he never fixed the ceiling inside of the home so it'll need sheetrock/patch. I was planning on just staying In it a couple of months and fixing it up a little until I find a new tenant to lease to and using that revenue to put towards a nicer apartment. Actually it's currently occupied by a family and maybe i'll even just let them continue to rent it and save that money up. I was just wondering if this sounds like a good investment for the price. I'm new to real estate but have been wanting to get into it since high school and I was just wondering If this was a good start. Any tips or advice.