Personally, I would follow Lonnie’s law. You should be able to buy 4 (at least 3) single wides in GA with 10k. I’ve never put more than 3k (rehab, clean-up, advertising, etc.) into the mobile homes I buy. This way, you never have too much invested into one deal.
On the other hand, if you can find a buyer with reasonably good credit, you could get cashed out. So, you just have to check your potential market and make your decision based on that. Hope this is of some help.
Posted by joe-ga. on December 22, 2000 at 14:19:47:
I just found a 1995 doublewide(24x52)on a repo lot.It is trashed out bad,but no structural damage,only cosmetic.New windows,carpet and a good cleaning,a few sections of paneling is all it needs. Is it worth $10,000? book value is 24000 without any addons.