Fremont Mobile Home For $166K?

sfdragonboy · April 8, 2018, 7:44pm

https://www.redfin.com/CA/Fremont/211-Manitoba-Ter-94538/home/1120465

manch · April 8, 2018, 7:52pm

Never buy mobile homes. NEVER!

sheriff · April 9, 2018, 12:02am

Space rent is over $1300. From the looks of the park it is not worth it.

Elt1 · April 9, 2018, 4:47am

Just buy the parks

manch · April 9, 2018, 5:03am

There was a Stanford grad who rolled pretty big in mobile parks. I linked to an article about him here. He teaches classes on buying mobile parks and he even has a forum like ours talking about nothing but mobile parks.

But you know what he says? Never buy any parks in California.

Elt1 · April 9, 2018, 10:00am

Buy in Oklahoma.

Esfgiants · April 9, 2018, 1:46pm

Hi March mind to share the link?

I think the biggest worry is the “ kind of people “ living in the parks

Elt1 · April 9, 2018, 3:10pm

http://www.loopnet.com/mobile-home-and-rv-parks-for-sale/

manch · April 9, 2018, 3:28pm

Here’s the old thread.

In Defense of Mobile Homes Economy & Finance

[image] The quiet story of trailer parks over the last two decades is their reinvention as “mobile home communities” by investors who saw a lucrative opportunity in providing housing to low-income Americans. The billionaire investor and real estate mogul Sam Zell recently said of his investment fund that owns mobile home communities—some of which advertise amenities like pools and tennis clubs—that he doesn’t “know of any stock or property I’m involved in that has a better prospect.” Since 2003, Warren Buffett has owned Clayton Homes, which builds houses destined for trailer parks across the country. At 1400 square feet, many of the homes don’t look like they were delivered on the back of a truck. Franke Rolfe, a Stanford graduate who teaches people how to profit in the mobile home industry, buys dilapidated trailer parks, cleans them up, and rents mobile homes to the working poor. A 2014 New York Times Magazine article reported that he and a partner earned a 25% return on their…

marcus335 · April 9, 2018, 5:35pm

I’d go with FL or AZ and only buy 55+ communities. You’re not going to have the tenant problems you do in a low-income mobile home park. Just make sure the shuffleboard court is well maintained. As more and more baby boomers age into retirement, you’re going to have increasing demand too. Most people have <$50k saved for retirement. They’ll be dependent on social security, so they’ll have to live in a mobile home park.

sfdragonboy · April 19, 2018, 7:40pm

Uh, Pending, folks… I thought this was such a bad investment???

https://www.redfin.com/CA/Fremont/211-Manitoba-Ter-94538/home/1120465