anyone do real estate?
 

Just getting into real estate and was wondering if anyone here has ever or currently does anything with rental properties? I grew tired of reading about mobile homes for $1000 and $1500 in the paper every week and have decided to try a couple. The average rent around here is $350 for 2 bedrooms. I have a deal worked out for 2 three bedroom mobile homes (which go for $400-$450) and 1 two bedroom mobile home for $3000, I will be make my money up in like 3 months.

Where do you live?

I got some friends with a lot of experience in this field.



G

gavin at adult-ventures.com

hmm i never considered mobile homes, you have a lot for them?

I know some people who have made a killing doing this.
Just need to me in a tornado state though that has lots of mobile homes lol

This is probably on the level of me buying houses in the cracked out neighborhoods here where I live.

Never thought of exploiting poor whites as well...thanks for the idea :winkwink:

I didn't know you could buy a "home" for under 3k lol

$3k? Must be a real shithole trailer... A NEW one costs like $50k for 3 bedrooms

there are a couple of trailor parks here in this small college town that a lot of students get. Their parents will come in and buy them up and then resell them in 3-4 years when they leave town. Could be some money in it for sure depending on what type of people you will be having there and how good everything is.

sounds great on paper...but i got a few friends that RENT...and those mofos are late with rent if they have any at all..always stuff breaking down in units...and they can live there for free for a few months before being evicted...not to say all renters are bad, but from sounds of it your not exaclty going to be renting 4 bedroom colonials ;)

have flipped 7 properties this year so far with the wife, it helps that we own a title company, but we got no time for being landlords. There is money in any form of real estate

[QUOTE]Originally posted by gdog
[B]Where do you live?

North Louisiana

Come one Come all

I plan on getting into houses after I get a good income coming in from mobile homes

I will be happy if they rent for a year but the way I figure it this is saver than spending 50 grand for a house that makes me 600 a month. Takes to long to get your money back that way.

wait till they start missing payments, your gonna love that :glugglug

Agreed it will be a pain but I do not have the income or credit to tie up a lump sum like that.

I never thought about renting out mobile homes. Condos have jumped so much, it's tough rent them at a profit after mortgage, condo fees, taxes etc.