I live in the Orlando area and was approached at the gym today by a realtor friend of mine that is listing some land with 3 mobile homes on it. There are two single wides that are rented for about $400 each and a double-wide that the owner is living in. Because I was furiously pumping on the ellipitical, I didn’t get all the details and haven’t had time to call him to get more details but wanted to get everyone’s opinion on a couple of things since I have never bought any real estate before except my own homes.
First, is this a normally a good investment, meaning owning a piece of land with three mobile homes on it?
Second, other than the typical things about a mobile home that are described in Lonnie’s books, what should I look for in the property to determine if it’s something I want to pursue. BTW, it is listed for $149K.
Post Edited (01-10-08 01:54)