I'm not sure if you can get any equity out of a manufactured home but I'm positive that there is no equity in an apartment.
2006-12-11 18:33:10 · 4 answers · asked by Aves 2 in Business & Finance ➔ Renting & Real Estate
A manufactured home because you could sell it later and get some of your money back, if not all. Place land and location count for something. Also you can decorate it and do anything you want to it since it's yours. You have privacy and don't have to worry about the paper-thin walls and neighbors hearing everything you say or a bad landlord.
2006-12-11 18:42:52 · answer #1 · answered by Mariposa 7 · 1⤊ 0⤋
Apartment all the way as long as you are intending to buy the apartment building. Stay away from manufactured homes...there are only 4-8 lenders that will do a loan on these properties. If you must buy a manufactured home make sure you own the land, the home is on a permanent foundation, and that the structure is fixed to the foundation and not tied to the foundation.
Apartments are cool in the since that you can have other people helping you pay your mortgage. Example you buy a 3 unit building. You live in one, and rent the others. Your mortgage is now being paid by 3 different people...see what Im saying? Furthermore up to 4 units is treated like a Single Family Residence and is eligable for 1st time buyer programs and 100% financing. I am a Senior Loan Officer and I can help you finance if you need. da805jd@yahoo.com if your interested.
Hope this all helps
2006-12-11 18:48:21 · answer #2 · answered by MR J 1 · 1⤊ 0⤋
I've never lived in man.house. I would love to because I am sick and tired of all this noise in apartments.
2006-12-11 19:12:50 · answer #3 · answered by Anonymous · 0⤊ 0⤋
manufactured home
2006-12-11 18:41:13 · answer #4 · answered by Foxtrot 2 · 0⤊ 0⤋