Posted by E.Eka on October 16, 2003 at 14:01:09:
All i said is that “I personally am not interested in mobile homes”.
I never told him/her not to look into it. Did I? If I’m wrong let me know.
Mobile home bad investment ? - Posted by Quinton
Posted by Quinton on October 15, 2003 at 19:29:16:
I live in the panama city area of florida. I would like to purchase a home for 65k or less for homestead. For that price I can get a nice mobile home on 1 acre with over 1000 sq feet or a small home with a small lot that needs work.
The mobile home will most likely go down in value in itself. But the developed property should go up in value more as it is a larger unit
How bad of an investment in general would it be to purchase mobile home?
I know no two properties are just alike and it is hard to compare apples to oranges. Just looking for some input.
Thanks for any replies in advance.
Re: Mobile home bad investment ? - Posted by Quinton
Posted by Quinton on October 16, 2003 at 18:38:24:
Thanks for the replies. I was looking at DW with land for homestead for at least 5-10 years, not to flip.
I think that is what the diferance in opion is based here on.
Any more ideas???
Re: Mobile home bad investment ? - Posted by Rich[FL]
Posted by Rich[FL] on October 16, 2003 at 13:03:48:
Quinton, I live here in PC. Email me or give me a call at 850-624-5257 and we can discuss what you’re looking to do.
Rich
Re: Mobile home bad investment ? - Posted by RichV(FL)
Posted by RichV(FL) on October 15, 2003 at 19:42:48:
Quinton,
Try the mobile homes section of this web site. In my opinion you will get your best advice there.
Great Success,
RichV(FL)
Re: Mobile home bad investment ? - Posted by E.Eka
Posted by E.Eka on October 16, 2003 at 09:35:26:
I personally stay away from mobile homes. Your goal is to acquire property that APPRECIATES in value, not depreciates, regardless of what the conditions are. You’ll always be going back words once you purchase the mobile unit. Even if the land increases in value, you’ll still have a depreciating asset on your land, and land that is not income producing.
I’d ONLY, (Actually never really would) consider any mobile unit if it wa less than Market value.
I liken it to buying a used car. Regardless of how much it’s worth now, it will always be worth less, the next day, week, month, or year.
It’s almost always better to purchase a small home that will appreciate in value in a decent area, than a 1 acre lot with a mobile home on it. BEsides, your disaster insurance will be through the roof being in Panama City, FL.
Re: Mobile home bad investment ? - Posted by Anne_ND
Posted by Anne_ND on October 16, 2003 at 11:25:46:
EEka,
While I agree with you that one should only buy mobile homes that are greatly under market value, buying a mobile home that comes with land is a great way to make a LOT of money.
Check out the mobile home newsgroup before you advise others to avoid mobile homes.
Anne
Re: Mobile home bad investment ? - Posted by E.Eka
Posted by E.Eka on October 16, 2003 at 11:35:28:
Thanks Anne,
I’m not going to check out the mobile home newsgroup. Mobile homes are of NO interest to me. I basically told the poster what I thought in my opinion. I don’t want to discourage him, but I have always been a proponent of dealing with things that have a greater potential of appreciating in value. That will increase the number of ways to generate profit. I’ve never really personally seen a good deal with mobile homes. Not to say that they don’t exist, but I just haven’t seen them.
You can make a lot of money with it, i agree but it’s not my cup of tea.
to each their own - Posted by Anne_ND
Posted by Anne_ND on October 16, 2003 at 12:12:53:
…but 990% yield feels pretty good to me.
If you don’t know anything about a particular method of investing, then don’t discourage others from doing it, that’s my only point.
Anne