Hi everybody… Let me introduce myself. I’m a former rental manager of a small rental inventory in northern AZ ( Mostly OLD mobile homes) ,and presently doing the single family rental thing in central TX. I have a full time job escorting windmill parts, so I don’t have a lot of time to take care of the properties my Bro owns in TX. Seems all the emergencies happen when I’m 3 weeks out on the road…lol. Most of what I do now is phone calls to the rental company and my handymen. WHen I do have a slow period escorting, I do the major projects, sheet rock, painting, plumbing, etc. I have a tractor/loader to help with the major cleanup, and pretty much can do most of the work until they start to enforce the “licensed contractors only” rules… The city has had years of major neglect and half done shoddy repairs are the norm among local contractors, so if I DIY well nobody says anything.
I hope to get off the road eventually and start just doing the rental thing but it will be a couple of years until that happens. Currently I am getting my hands on as many bare lots in town as I can, including ones with nonrehabbable homes. In the present market I can buy places for $500. and lots with saveable houses for $2500. 2 BR rentals are $350-450 a month with some real junk places going for 200, with tenants to match.
I am starting to acquire a larger area in town that the town is really happy about someone cleaning up the garbage and weeds on it, and plan to keep adding to that lot.
Thoughts are to create an Adult community with park models and spaces for campers. I want to get away from the actual ownership and responsibilities of home repairs, and sell the MH’s to tenants. I want to do it all with cash, I’m a Dave Ramsey fan and follower…so it’ll be slow going and sweat equity all the way.
My immediate question is HOW do I replace particleboard floors in a MH that is on one of these lots… WIndows were left open and the rain ruined the floor by every window… large fall thru holes just don’t seem like a good renting point… The home is a nice size and painted up would look fine, roof is excellent, it’s grandfathered as far as a foundaion goes, and it cost me about $500 including the lot.
Also are there any good sources for CHA units for these places? there is natural gas onsite, and AC would definitely be a good selling point.
Any ideas and suggestions would be great.
Post Edited (07-05-08 13:11)