All Forum Posts by: Xin Z.

@Adrian Smude

These are great alternatives.  I have heard about Dodd Frank before but know little about the details.  I will probably need to talk to a real estate attorney if I decide to go that route.  Thanks for the suggestions!

@Joshua D. 

That's an amazing return of investment! It is good to know that mobiles can appreciate.  I have heard that they will only depreciate like cars, but it looks like it could be either way depending on the situation.

@Joshua D. Thanks for the clarification!  Yes, with depreciation I was referring to the drop in resale value.  Sorry for the confusion!

@John Arendsen

Yes the mobile home is in the path of progress.  Subdivisions are being built within a couple of miles of the home.  I am leaning toward renting it at this time.  Hopefully I can find a qualified tenant for it.  Thanks so much for the good points in your post!

@Bill Ayers Thanks for your reply!  Yes, I agree the tenant quality is a big concern for mobile homes.  I will definitely take this into consideration if I decide to go with renting the property.

Hi, this may be an entry level question from a newbie :) I am interested in a full duplex that is located in a very good area. Most of the duplexes in this community seem to be owner occupied, with just a few used as rental. Should I comp the duplex price just like other multifamily properties, i.e. using the rental income and cap rate? Or is it better to comp it like SFR using the sale of price of similar properties?

Thanks so much for any help!

Hi, I have a mobile home on about 2 acres of land.  It has been completely rehabbed with new AC, water heater, windows, flooring, paint, appliance, etc.  It was made in 1999.

Now I am trying to decide whether I should rent it or sell it.  It is located in a convenient location, so renting shouldn't be a problem.  My concern is the depreciation of the mobile home.  After a few years of renting, if the value depreciates a lot when I sell it eventually, then my cash flow will be much smaller if any.  I'd like to hear from experts here when a mobile home is "too old" and start to lose its resale value.  Any comments and advice is greatly appreciated.

I have a rental property with slightly below market rent (around $25).  The tenant is one of my best tenants, and I hope they would stay longer.  Is it better to keep the rent as it is for one more year and raise the rent later, or should I raise the rent each year by a small amount like $25 to keep up with the market?

Please provide your comments and advice :)

@Patricia Newman Would that term make it harder for me to sell the house in the future?  The tenant does like the house a lot.

@Brian Gibbons Thanks for the website and info on owner financing!  This particular tenant wants to pay cash (she said the money is from her dad).  I so have another tenant at a different property interested in buying so I will definitely explore the owner financing option with them.

@Lee Kendall I did counter a fair market price but she will only consider the price if the house has no problems.  She wants to do the inspection first and then consider my offer price based on inspection results.  Knowing her personality and the nature of inspection, I doubt she would raise her price at all.  On the other hand, I am quite reluctant to sell due to the lack of new investment opportunity in this area.

@Lynn McGeein Thanks for sharing your experience on dealing with this kind of situations!  My local market doesn't have much inventory thus I have several tenants interested in buying my houses.  If dealt properly, this could be a win-win situation for both tenant and owner.