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TOPIC: Re:Purchasing Mobile home for Profit . Resell or R
#5907
dellray ()
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Purchasing Mobile home for Profit . Resell or Rent 3 Years, 10 Months ago Karma: 0  
I would like to know if anyone is experienced in working with Mobile Homes. I got a call from a friend of mine who told me about a Mobile home that is going back to the bank. The price is $8000.00 (quite a modest amount). This could be my first transaction. I think I could live in the mobile home until I can sell it / or better yet rent it out. I understand the rents are $1200.00month at present. Park fees and Mobile home mortgage. I am looking for some advice. I will be gathering the details for the property over the next week and will do my research on the property. I live in California and have a Mortgage Brokers license. I would like to use my commission on the sale as a down payment. My biggest issue at present is Credit. My credit has been damaged and I am not sure what the best way to approach this situation at present!
 
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adminchat ()
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Re:Purchasing Mobile home for Profit . Resell or R 3 Years, 10 Months ago Karma: 2  
Hi Dellray,
I have not done any transactions involving mobile homes, but I do know of some investors who have and they can be very profitable.
Have you read the Real Profit$ in Real Estate program on this website? In Volume II there is a section on investing in Mobile Homes that may give you some answers.
Good luck! And please let us know how it turns out!
 
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