could you be able to make money renting mobile homes? i was thinking about starting off with buying a mobile home, renting a lot and renting it out to somebody. about how much does it cost to rent out a lot plus taxes every month. also how much would it cost to insure the mobile home? im not looking to make alot of money just a little cash everymonth and if its easy then ill do more.
2007-07-01 18:46:36 · 4 answers · asked by joetrangmoneymaker 1 in Business & Finance ➔ Renting & Real Estate
This can actually be quite lucrative, I used to work in the MH industry in california and know a guy who makes a fortune doing this - he owned hundreds of MHs.
Here's the catch, most MH parks don't allow it, it's considered subletting, and don't think you can get away with it in violation of the rules because eventually it will be discovered and they can force you to evict your tenants and make you continue to pay the rent but not let you have anyone live there.
If you want to look into it, check the rules and regs of the individual parks, also be sure to review the local and state laws relating to MH parks. And learn something about property management, it's not exactly a walk in the park.
2007-07-01 18:53:14 · answer #1 · answered by heart o' gold 7 · 0⤊ 0⤋
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2016-07-19 03:56:14 · answer #2 · answered by ? 3 · 0⤊ 0⤋
Lot fees vary by park and state, obviously. Ours is about 250/mo. As far as insurance goes, I'm sure it isn't too bad, as long as you're not in a heavy flood/storm area. You'll have to check with an agency for quotes.
If you own the home and rent the lot, you can make some pretty good side cash, I suppose. You'd better know how to fix the place if there are problems, and be sure that your tenants are following park guidelines (if any) to avoid citations. These houses are notoriously easy to work on but commonly use cheaply made materials. Inspect your prospect home very carefully before buying. There are several guides available in the internet.
Other than that, you're in business!
Hope this helps!
2007-07-01 18:53:50 · answer #3 · answered by p37ry 5 · 1⤊ 0⤋
No they absolutely can not. That would be like if I was visiting your home and was parked in your driveway..you couldn't legally go out there and start beating my car with a bat... If this is your MH, you need to get a lawyer! they had NO right to do this!
2016-05-21 00:36:09 · answer #4 · answered by jimmie 3 · 0⤊ 0⤋