Renovating A 1972 Mobile Home for $9,000?!?

Friends -

I’ve got a 2BR/2BA 1972 singlewide in bad shape. It needs a roof, entirely new interior, new hot water heater, and completely new electrical. The repair bids aggregate to $9,000. I’ll be able to RTO it for $350/month, but at this steep expense for such an old home, I’m thinking my money may be better spent elsewhere. For instance, I could come up with another $9,000 and scrap this home and get a 2000 or 2001 3BR/2BA for $18,000 that would RTO for $600/month and attract a much better quality tenant.

What would you do?

-jl-

If you have to upgrade the lot in order to move in a new home, you’re better off fixing up this one. It costs me about $4,500 to make the pad all concrete and meet other requirements in OH. This makes me think long and hard about getting rid of an older home.

Rolf

Wheat HIll

Jefferson,

with a pre-HUD code home, we would not do this deal. I can replace that (I am guessing) 12’ wide with a late 90s 16x80 for 6 or 7 + 4 to move and set up = 10-12k.

your economics are the same - 9k (which is IMHO outrageous for an aluminum wired, possible 2x2 wall) for 350 or an 1800 for 600 = same ROI, so why not go for the better looking, better tenant home?

When I get these bombers - I put an ad out that says this - ad below. So instead of me PAYING to dismantle them, I get paid and it magically disappears. This one (you’ll see the video) is not too bad - I’ve had worse - and still get the $500.

Now by law here, these pre HUD homes, once moved, can’t be hooked up to electric - I tell people this up front - and they still buy them. ??? It IS Kentucky. :wink:

this was our last ad - I bet I had 100 calls and it was gone in 4 days:

$500 / 2br - rental trailor - perfect for the farm or hunting cabin (Campbellsville, KY)

Date: 2012-05-14, 9:46AM EDT

I have an old trailer that needs to be moved. Can be rented out - perfect for a farm or hunting/lake use.

It has to be moved - I have a new home coming in that spot.

There’s a video of it here - http://www.youtube.com/watch?v=KdHIwCyAEqg

Call me for more info 859-319-5000 It’s in Campbellsville and we have toters we can recommend - or take it out with a diesel truck.

We’ve always rented it for $200 each side = $400/mo income. It ain’t fancy, but it’s cheap.