If you are a bachelor, it's probably the best thing you can do.
1. Make sure you own the land. 2. Make sure there isn't any HOA. HOA is just a fancy way of saying "You pay $XX,XXX dollars upfront for the privileged of paying $200 in rent to the HOA every month AND you have to pay property taxes to the county"
If you own the ground and there isn't an HOA, PAY OFF THE MORTGAGE AS FAST AS YOU CAN. The mortgage minimum is going to be something like $500/month. Remember, that's the MINIMUM. Pay double or triple that. You can probably get out of the Mortgage in 5-7 years.
Then you have two routes. 1. Get a new mortgage to build a stick house on the property. 2. Leverage the value of the property to get a mortgage on a second property for rental income. The rental should pay for itself, on top of that, apply the money you were spending on the trailer mortgage to the rental property. Once that property is paid off you have your passive income set.
Define good size. I have a double-wide. Bought the land first, put the home on it. What is the water supply? What size mobile? What county/state? Some counties in some states offer one very distinct advantage: not much code. When you're screwing around with living quarters, that can be a helluva big thing. Some counties in MO have virtually no code: the state makes recommendations. For instance, in MO, if you have 3+ acres, septic leach fields can be pretty much anywhere on your property with 0 inspections, but must be 100ft from roads or streams. Pretty easy. In those places, you can stick a portable on your place.
People need to get real. Making jokes about quarters is idiotic. The size and location count; if a person is city bred and has 0 knowledge of country, quiet is the word of the day. In my area, I can do whatever I please with my place, so long as I don't affect people upstream or downstream. Riparian water laws. If I want a building, I build it: nobody comes to inspect, 'cause if they do, they're trespassing and get chased off. Castle doctrine extends to property boundaries, not door sill, and self defense is everywhere.
Don't condemn mobiles, anyone. We appear to be hillbilly, some may think trailer trash, but people come by here and move right along, 'cause most of the time I'm out with an ar or 45 strapped. And the road through is an easement, meaning I own that land, not the county. You getting the picture?
I wish it was bigger, it's about .75 acres. It's right down the road from me, outside the city so I'm familiar with the area. There's lots of mobiles in my area so I know they can be fine. I've just never had personal experience with one and wonder about general maintenance
Get it inspected and then maintain it, not really too different than buying a house. The good sized chunk on land is the real feature here IMO, assuming it's nice. Mobile homes have limited storage so you're probably going to want a shed or two, or maybe a shop depending on your hobbies. Mobile home parks are dismal, soulless places because everyone is just there temporarily, even if that's 20 years. Living on an actual lot is a big plus.
If you're on a septic tank make sure to have it inspected by someone who's licenced. The guy that inspects the mobile home may offer to do it but unless he's licenced say thanks but no thanks.
[ - ] Peleg 1 point 2.2 yearsFeb 13, 2023 09:52:36 ago (+1/-0)
Shit. All the people talking shit about mobile home parks, and the people that live in them, Mobile home parks are great! That's where I met All my wives! And you know what they say about that kind of woman, "they make the best wives!"
Build a basement put the mobile home on top. It should still qualify as a Mobil home. That's what I did. Nobody knows it wasn't stick built except for the city. Taxes are cheaper.
It probably has a retired title (or else it will need an Affidavit of Affixture) if you plan to obtain financing. If you're looking for financing and to ensure you're not limited to a cash buyer when you want to sell, make sure the place still has its HUD Certification Label(s) (a single wide-will only have one, a multi-wide will have more than one). If it's missing the labels and has no data plate, it's not financeable.
If the HUD labels are painted over, get some paint remover and clean them off.
That bit about the HUD label is more for the real estate agent (if applicable). If you do plan on a for-sale-by-owner purchase, check for the HUD label(s). They should be affixed to the exterior. That way you don't waste any money on an appraisal or time spent on going through the mortgage process.
Definitely ensure the labels stay on your unit throughout your ownership. Feel free to DM me with any questions. I may be able to assist.
I lived in one for a year as a teenager. It was kind of cheap and shitty, and every time it stormed I'd worry the trailer would get fucked up, but it did the job.
If you can get over the "trailer park" stigma of living in a mobile home, it's not that bad. I'd prefer living in a trailer on a Texas pasture, over most urban or suburban apartments.
[ - ] fnbs 1 point 2.2 yearsFeb 12, 2023 22:37:40 ago (+1/-0)
Its the property rental that makes living in a mobile home the worse thing ever...you mention its on a lot of land so i assume there is no park involved?
No but unless you want the whole acre of land you could subdivide that acre into 4 1/4 acre lots and keep your mobile home on one and probably pay it off completely and still have a quarter acre and some more money in the bank and do it again.
Pay for a real inspection by a qualified contractor. It will cost a few hundred dollars and might feel like a waste of money if he doesn't find any serious problems, but if there are serious problems it's worth every penny
I live in a double wide on acreage. Insurance costs more and the mortgage was harder to find so maybe I payed 0.5% more than if it was a regular house. Decks cannot be attached and must be free-standing. Red-necks attach decks and covered porches and then there's no way to sell except for cash. If you manage to buy in this state you probably won't be refinancing. Some are registered and taxed as a vehicle and some have a real property stamp so it's taxed along with the land. You're probably fine if it's only 10 years old. It means you have recent codes for wind and sanitation at least.
1st) Make sure that you own the land. If you pay rent to some landlord for the land but "own" the mobile home, you will never build equity (or a lot less) as the fucking landlord will continue to raise the rent.
2nd) The newer the better as far as mobile homes go.
3rd) Get one that has a concrete or concrete block foundation.
My grandmother lived in one for as long as I could ever remembered. But keep in mind G-d hates mobile homes.
24 “Therefore everyone who hears these words of mine and puts them into practice is like a wise man who built his house on the rock. 25 The rain came down, the streams rose, and the winds blew and beat against that house; yet it did not fall, because it had its foundation on the rock. 26 But everyone who hears these words of mine and does not put them into practice is like a foolish man who built his house on sand. 27 The rain came down, the streams rose, and the winds blew and beat against that house, and it fell with a great crash.” Matthew 7:24-27
[ + ] lord_nougat
[ - ] lord_nougat 20 points 2.2 yearsFeb 12, 2023 21:31:58 ago (+20/-0)
You'd be the very first. Make history!
[ + ] Jiggggg
[ - ] Jiggggg [op] 3 points 2.2 yearsFeb 12, 2023 23:08:24 ago (+3/-0)*
[ + ] Sector7
[ - ] Sector7 15 points 2.2 yearsFeb 12, 2023 23:10:17 ago (+15/-0)
[ + ] Jiggggg
[ - ] Jiggggg [op] 8 points 2.2 yearsFeb 12, 2023 23:15:36 ago (+8/-0)
[ + ] Scyber
[ - ] Scyber 8 points 2.2 yearsFeb 12, 2023 22:22:04 ago (+8/-0)
https://youtu.be/jRHoK2Do3y0
[ + ] PrinceSheckleberg
[ - ] PrinceSheckleberg 2 points 2.2 yearsFeb 12, 2023 22:48:23 ago (+2/-0)
[ + ] Jiggggg
[ - ] Jiggggg [op] 2 points 2.2 yearsFeb 12, 2023 23:09:04 ago (+2/-0)
[ + ] Sector7
[ - ] Sector7 1 point 2.2 yearsFeb 12, 2023 23:12:35 ago (+1/-0)
[ + ] Master_Foo
[ - ] Master_Foo 7 points 2.2 yearsFeb 12, 2023 22:59:49 ago (+7/-0)
If you are a bachelor, it's probably the best thing you can do.
1. Make sure you own the land.
2. Make sure there isn't any HOA. HOA is just a fancy way of saying "You pay $XX,XXX dollars upfront for the privileged of paying $200 in rent to the HOA every month AND you have to pay property taxes to the county"
If you own the ground and there isn't an HOA, PAY OFF THE MORTGAGE AS FAST AS YOU CAN. The mortgage minimum is going to be something like $500/month. Remember, that's the MINIMUM. Pay double or triple that. You can probably get out of the Mortgage in 5-7 years.
Then you have two routes.
1. Get a new mortgage to build a stick house on the property.
2. Leverage the value of the property to get a mortgage on a second property for rental income. The rental should pay for itself, on top of that, apply the money you were spending on the trailer mortgage to the rental property. Once that property is paid off you have your passive income set.
[ + ] Jiggggg
[ - ] Jiggggg [op] 1 point 2.2 yearsFeb 12, 2023 23:13:27 ago (+1/-0)
[ + ] albatrosv15
[ - ] albatrosv15 4 points 2.2 yearsFeb 13, 2023 03:19:18 ago (+4/-0)
[ + ] Seadevil110
[ - ] Seadevil110 1 point 2.2 yearsFeb 13, 2023 18:19:03 ago (+1/-0)
I have a double-wide. Bought the land first, put the home on it.
What is the water supply? What size mobile? What county/state?
Some counties in some states offer one very distinct advantage: not much code. When you're screwing around with living quarters, that can be a helluva big thing. Some counties in MO have virtually no code: the state makes recommendations. For instance, in MO, if you have 3+ acres, septic leach fields can be pretty much anywhere on your property with 0 inspections, but must be 100ft from roads or streams. Pretty easy.
In those places, you can stick a portable on your place.
People need to get real. Making jokes about quarters is idiotic. The size and location count; if a person is city bred and has 0 knowledge of country, quiet is the word of the day.
In my area, I can do whatever I please with my place, so long as I don't affect people upstream or downstream. Riparian water laws. If I want a building, I build it: nobody comes to inspect, 'cause if they do, they're trespassing and get chased off. Castle doctrine extends to property boundaries, not door sill, and self defense is everywhere.
Don't condemn mobiles, anyone. We appear to be hillbilly, some may think trailer trash, but people come by here and move right along, 'cause most of the time I'm out with an ar or 45 strapped. And the road through is an easement, meaning I own that land, not the county.
You getting the picture?
[ + ] Jiggggg
[ - ] Jiggggg [op] 0 points 2.2 yearsFeb 14, 2023 10:06:17 ago (+0/-0)
[ + ] con77
[ - ] con77 2 points 2.2 yearsFeb 13, 2023 02:35:31 ago (+2/-0)
[ + ] Jiggggg
[ - ] Jiggggg [op] 0 points 2.2 yearsFeb 14, 2023 10:07:19 ago (+0/-0)
[ + ] Deleted
[ - ] deleted 2 points 2.2 yearsFeb 12, 2023 22:55:36 ago (+3/-1)
[ + ] Jiggggg
[ - ] Jiggggg [op] 5 points 2.2 yearsFeb 12, 2023 23:14:16 ago (+5/-0)
[ + ] pickingrinninspittin
[ - ] pickingrinninspittin 2 points 2.2 yearsFeb 12, 2023 22:30:14 ago (+2/-0)
If you're on a septic tank make sure to have it inspected by someone who's licenced. The guy that inspects the mobile home may offer to do it but unless he's licenced say thanks but no thanks.
[ + ] Jiggggg
[ - ] Jiggggg [op] 4 points 2.2 yearsFeb 12, 2023 23:16:30 ago (+4/-0)
[ + ] Deleted
[ - ] deleted 2 points 2.2 yearsFeb 12, 2023 21:55:38 ago (+2/-0)
[ + ] PrinceSheckleberg
[ - ] PrinceSheckleberg 2 points 2.2 yearsFeb 12, 2023 22:46:59 ago (+2/-0)
[ + ] Jiggggg
[ - ] Jiggggg [op] 1 point 2.2 yearsFeb 12, 2023 23:15:15 ago (+1/-0)
[ + ] SteppingRazor
[ - ] SteppingRazor 1 point 2.2 yearsFeb 13, 2023 10:23:13 ago (+1/-0)
Good luck.
[ + ] Peleg
[ - ] Peleg 1 point 2.2 yearsFeb 13, 2023 09:52:36 ago (+1/-0)
All the people talking shit about mobile home parks, and the people that live in them,
Mobile home parks are great! That's where I met All my wives! And you know what they say about that kind of woman, "they make the best wives!"
[ + ] StarylDrawberry
[ - ] StarylDrawberry 1 point 2.2 yearsFeb 13, 2023 08:38:06 ago (+1/-0)
[ + ] SilentByAssociation
[ - ] SilentByAssociation 1 point 2.2 yearsFeb 13, 2023 06:18:13 ago (+1/-0)
It probably has a retired title (or else it will need an Affidavit of Affixture) if you plan to obtain financing. If you're looking for financing and to ensure you're not limited to a cash buyer when you want to sell, make sure the place still has its HUD Certification Label(s)
If the HUD labels are painted over, get some paint remover and clean them off.
[ + ] Jiggggg
[ - ] Jiggggg [op] 0 points 2.2 yearsFeb 14, 2023 10:14:26 ago (+0/-0)
[ + ] SilentByAssociation
[ - ] SilentByAssociation 1 point 2.2 yearsFeb 14, 2023 15:09:05 ago (+1/-0)
Definitely ensure the labels stay on your unit throughout your ownership. Feel free to DM me with any questions. I may be able to assist.
[ + ] AngryWhiteKeyboardWarrior
[ - ] AngryWhiteKeyboardWarrior 1 point 2.2 yearsFeb 13, 2023 04:03:10 ago (+1/-0)
If you can get over the "trailer park" stigma of living in a mobile home, it's not that bad. I'd prefer living in a trailer on a Texas pasture, over most urban or suburban apartments.
Hope yours has air con and heating.
[ + ] Jiggggg
[ - ] Jiggggg [op] 0 points 2.2 yearsFeb 14, 2023 10:14:06 ago (+0/-0)
[ + ] observation1
[ - ] observation1 1 point 2.2 yearsFeb 13, 2023 03:05:23 ago (+1/-0)
[ + ] lastlist
[ - ] lastlist 1 point 2.2 yearsFeb 13, 2023 03:16:36 ago (+1/-0)
[ + ] HonkyMcNiggerSpic
[ - ] HonkyMcNiggerSpic 1 point 2.2 yearsFeb 13, 2023 00:07:00 ago (+1/-0)
[ + ] Jiggggg
[ - ] Jiggggg [op] 0 points 2.2 yearsFeb 14, 2023 10:19:01 ago (+0/-0)
[ + ] xmasskull
[ - ] xmasskull 0 points 2.2 yearsFeb 13, 2023 23:51:12 ago (+0/-0)
[ + ] Jiggggg
[ - ] Jiggggg [op] 1 point 2.2 yearsFeb 14, 2023 10:07:44 ago (+1/-0)
[ + ] fnbs
[ - ] fnbs 1 point 2.2 yearsFeb 12, 2023 22:37:40 ago (+1/-0)
[ + ] Jiggggg
[ - ] Jiggggg [op] 1 point 2.2 yearsFeb 12, 2023 23:10:53 ago (+1/-0)
[ + ] Crackinjokes
[ - ] Crackinjokes 0 points 2.2 yearsFeb 13, 2023 23:17:48 ago (+0/-0)
[ + ] Not_a_redfugee
[ - ] Not_a_redfugee 1 point 2.2 yearsFeb 12, 2023 21:33:57 ago (+1/-0)
[ + ] Sector7
[ - ] Sector7 0 points 2.2 yearsFeb 12, 2023 23:15:29 ago (+0/-0)
[ + ] Deleted
[ - ] deleted 0 points 2.2 yearsFeb 13, 2023 20:35:54 ago (+0/-0)
[ + ] Jiggggg
[ - ] Jiggggg [op] 0 points 2.2 yearsFeb 14, 2023 10:09:08 ago (+0/-0)
[ + ] Doglegwarrior
[ - ] Doglegwarrior 0 points 2.2 yearsFeb 13, 2023 16:14:12 ago (+0/-0)
So a mobile home would seem gigantic to me until I finish my 4000 sq foot warehouse house
[ + ] xmasskull
[ - ] xmasskull 0 points 2.2 yearsFeb 13, 2023 23:53:53 ago (+0/-0)
[ + ] Jiggggg
[ - ] Jiggggg [op] 0 points 2.2 yearsFeb 14, 2023 10:10:25 ago (+0/-0)
[ + ] ItsOk2bArian
[ - ] ItsOk2bArian 0 points 2.2 yearsFeb 13, 2023 02:11:48 ago (+0/-0)
[ + ] Jiggggg
[ - ] Jiggggg [op] 0 points 2.2 yearsFeb 14, 2023 10:15:12 ago (+0/-0)
[ + ] ConcentrationCampCouncilor
[ - ] ConcentrationCampCouncilor 0 points 2.2 yearsFeb 12, 2023 23:47:26 ago (+0/-0)
[ + ] Jiggggg
[ - ] Jiggggg [op] 0 points 2.2 yearsFeb 14, 2023 10:16:59 ago (+0/-0)
[ + ] beece
[ - ] beece 0 points 2.2 yearsFeb 12, 2023 23:31:50 ago (+0/-0)
1st) Make sure that you own the land. If you pay rent to some landlord for the land but "own" the mobile home, you will never build equity (or a lot less) as the fucking landlord will continue to raise the rent.
2nd) The newer the better as far as mobile homes go.
3rd) Get one that has a concrete or concrete block foundation.
[ + ] Jiggggg
[ - ] Jiggggg [op] 0 points 2.2 yearsFeb 14, 2023 10:18:31 ago (+0/-0)
[ + ] Trumpman1488
[ - ] Trumpman1488 -1 points 2.2 yearsFeb 13, 2023 05:37:55 ago (+0/-1)
[ + ] ilikeskittles
[ - ] ilikeskittles -1 points 2.2 yearsFeb 12, 2023 22:07:43 ago (+0/-1)
24 “Therefore everyone who hears these words of mine and puts them into practice is like a wise man who built his house on the rock. 25 The rain came down, the streams rose, and the winds blew and beat against that house; yet it did not fall, because it had its foundation on the rock. 26 But everyone who hears these words of mine and does not put them into practice is like a foolish man who built his house on sand. 27 The rain came down, the streams rose, and the winds blew and beat against that house, and it fell with a great crash.” Matthew 7:24-27