Posted by Bernard Collier on March 11, 2002 at 19:51:39:
You will not necesarily loose money because your mortgage is being paid down with each payment. However, don’t expect the profit you’d recieve if it
was a stick built house. Although, that is not impossible.
Land doesn’t appreciate in value like homes do.
However, if the area becomes popular then all land values may go up because people are willing to pay more for it.
Things that would make it go up. They put in a new Food Lion, or a Walmart, etc.
The vacancy rate will be about the same as with a stick built. However, the maintenance will be slighly higher, due to the fact that it is not as well built as a stick built. However, if you get good tenants, then they may help with the upkeep by doing minor jobs themselves.