Ok, first off I want to say that I am new to the site, and this will be my first post. Also, I have been reading Dean's books, which lead me to try out the site as well.
We are working on a possible first deal, but I am hoping to get some opinions and/or feedback, and possibly a little guidance in the first steps.
We are looking at a mobile home for sale at the price of $4000.00. It's part of an estate, so the seller wants the full amount up front.
My first question would have to be, how good of an investment could this be if we were able to purchase this mobile home? It's located in a park of 185 others, lot rent is about $165/m includes garbage. Our first thought was to fix it up, and rent it for a year, then possibly try to sell it for a little more than what we paid.
We were also thinking of what to charge for rent. How would you go about determining the price.
Would love to hear from those that have dealt with mobile homes. Any advice, opinions, etc., would be gratefully appreciated.