Would I be making a good investment buying a used moblie home for 20 thousands dollars?

Answer 1

It depends on your financial situation, the condition of the mobile home, how you'd be paying for it, and so on.

Mobile homes are not generally a good investment, because they don't usually appreciate in value. But they might be the best choice for you in your personal circumstances; can't say without more detail.

Best wishes and God bless.

Answer 2

Mobile homes are a lot like cars. Once you buy them, they immediately drop in value. If it is all you can afford, then that part wouldn't matter too much to you. However, saving and buying a home would be the best option. I believe the average home will appreciate 5% (+ or -) yearly. The appreciation will build equity and therefore make a much better investment.

Answer 3

You would likely not be making an "investment" with your purchase. Mobile homes are not prone to appreciation in value like a more traditional home would be. Though it may be that 20K means extremely inexpensive living for you and so would be very cost effective and a wise choice in that respect. The best you could likely hope for is to retain most of the price you paid, but don't expect it to go up.

Answer 4

you have a number of recommendations. First, however, initiate via answering some questions: could this be short term or long term? do you prefer to put in multiple attempt in my view, or shop it low maintainence? finally, do you may make this a extreme or low probability investment. long term, very own action or extreme probability investments get you larger returns, yet you may locate there are additionally drawbacks. the different recommendations are less complicated and safer, yet you does no longer earn as lots on your investment. With funds like that, i in my view could evaluate making use of it to start a small employer, like establishing a bar. i could set some aside to play interior the inventory industry. in case you elect that path, I advise appearing somewhat examine with MotleyFool. Then sign in for a low fee on line brokerage account, which includes with eTrade or Scottrade, the place finding out to purchase and merchandising is low fee. the best selections could probable be making an investment interior the money industry with mutual funds. Charles Schwab could be an excellent place to start. you purchase component to a portfolio they have prepare of shares. They do most of the artwork for you, and having unfold the investment over many companies reduces probability. My very own sought after are funds which you purchase on line by way of companies like ING Direct or EmigrantDirect American Dream account. those act like mark downs money owed, yet provide you a surprisingly larger return (like 5% interest). a huge earnings here, as with shares, is liquidity: you may pull your cash out of the investment rather truthfully with little or no penalty. even with the undeniable fact that, there is very almost no probability in assessment to shares, as your cash would be federally insured, so which you're secure against loss. in case you have an interest, you may positioned that funds in the direction of a down fee for a house. making an investment in real assets can earn some superb returns on your cash. bear in mind, however, that's risky, and it will in all probability require lots extra investment over the years than 20,000 (till you turn around and sell it). yet which will take lots extra time and attempt than you would be able to decide on. i could probable circulate desire that facilitates.

Answer 5

It depends on location and size of the land plot on which the mobile home sits.

Answer 6

NO unless it comes with alot of land its hard to find lenders to lend on it. Also think of the group of potential renters.

Answer 7

Depends on condition and location.

Answer 8

If it sits on property that is at the beach then yes!

Answer 9

compare the price with the local market.

Answer 10

no, it loses value and does not go up in values as a home.