Posted by JD on May 24, 2000 at 07:27:33:
will the zoning permit you to put 4+ trailers on one 5 acre lot? I doubt it, but it might. Unless you are putting them in yourself, well and septics cost more than $1500 and $1200 dollars.
Is this a good deal? - Posted by Cheryl
Posted by Cheryl on May 22, 2000 at 23:59:24:
Ok guys,How does this one sound? This piece of property has 4.8 acres of land and a 1998 Redmond 16x80 mobile home.It is in good shape with underpinning nice deck and all appliances included.They said they gave $46,000 for the trailor and the payoff is $38,000 @9%for 7 more years. Payment is $352.00p/m. They are asking $65,000.The land has a well that feeds to another trailor space that has a septic tank.There can be about 4 or 5 more trailor spaces made. Trailor spaces around here rent for $150.00p/m. The trailor and 3.8 of the 4.8 acres appraised for $62,500 2 years ago. Land around here is going for 7-10 an acre.
I thought about selling the trailor and renting the space along with the other 4 or 5 spaces.I would need 4 more septic tanks @$1200. a piece and another well for about $1500.Also about $1000. worth of gravel for a couple of small driveways.
I was going to offer $50,000 or $55,000. I believe I can make my money back in 5 years.Does this sound like a good investment? Thanks for your wise input.