investing in mobile homes

[Lao Tzu]

Question:


Its my understanding that a shitty mobile home goes for about $5k to buy. The rent in a trailor park is about $110 a month. So wouldn't buying a mobile home, then renting it for $200 a month be a good investment? that is a 21% annual return on a small investment.


What all is wrong with this idea.

 

[Paulos]

You have to rent it to some white trash fuck who probably won't be able to come up with rent money.

 

[Lao Tzu]

I knew you'd be the first to reply, i don't know how i knew it but i did.

 

[TxArmyGuy]

He's right...my cross country coach from highschool did this and he had problems evicting them...He ended getting fucked on the deal and lost alot of money

 

[Paulos]

I like to follow you around since that whole "fucking your own rolls of fat" post.

 

[HumorMe]

You would also have to set up water and sewer systems and electrical service for them.

If you had some land and could get zoning for a trailer park, you would have to have all of that in place before you could rent spaces.

 

[Lao Tzu]

He's right...my cross country coach from highschool did this and he had problems evicting them...He ended getting fucked on the deal and lost alot of money

howso exactly.

 

[Lao Tzu]

You would also have to set up water and sewer systems and electrical service for them.

If you had some land and could get zoning for a trailer park, you would have to have all of that in place before you could rent spaces.

I think the parks do that for you, i'd just be buying someone elses home, then renting it out to another person.

 

[TxArmyGuy]

He had problems evicting them since they knew how to dance around the Eviction laws without paying rent

 

[HumorMe]

I think the parks do that for you, i'd just be buying someone elses home, then renting it out to another person.

Sorry! I read your post wrong.

You can get some good deals on mobile homes in the repossessed market or maybe from an insurance company salvage sale. They might have some minor/major damage but you can get them dirt cheap and spend a little money on them and fix them up.