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

mobile home university
1

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-

2

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

3

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 - DUPLEX Mobile home trailer - got to go! Kentucky - YouTube

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.