is it crazy to think about renting a mobile home out?
Manufactured Homes September 10th, 2010that you still owe money on? husband and I need to move now. mobile home-bought for 35k-owe 23k still on it. owe 16k on land. I know the renters cannot destroy the land BUT they can the house.
Is this a crazy idea to rent it out for 900 a month?(300 a room) plus bills?
September 10th, 2010 at 3:35 pm
If you can get $900 @ month for a mobile home, then go for it.
Even if they tear it up, which if you rent long enough is bound to happen, you are making some serious money that you can bank/invest inthe interim.
And then you may have to lower the rent, but you are still going to cash flow quite nicely.
I say go for it.
September 10th, 2010 at 3:35 pm
Renters can destroy any home. If you can rent it, why not, as long as the rent makes your payments. You might even rent it with option to buy, if you are interested in selling. As long as you can collect rent, the tenants are buying your property for you.
The trick is to check out the tenants carefully and get a good size security deposit, and make sure your insurance is adequate.