Posted by Sailor on April 27, 2011 at 18:58:44:
Or a trailer, depending on the area. This site has an excellent MH forum, & the books by Lonnie Scruggs (available on this site) are invaluable for any investor, beginning or advanced. W/a mobile home, even if you mess up & pay too much, you aren’t out like on a stick-built mess. Chances are good, if you read Lonnie’s books & the Archives on the MH Forum, you’ll still make $$$. I only buy MH’s now.
First time investor starting point - Posted by Cj
Posted by Cj on April 27, 2011 at 04:23:10:
I’m ready to get into rental properties. Should I start with a single family home, duplex, 4 plex or what?
Re: First time investor starting point - Posted by Chris in FL
Posted by Chris in FL on May 15, 2011 at 01:17:09:
The most honest information - to each his own. Why I prefer single family homes, especially right now (at least in my area)… Very easy to find bargains in SFR - maybe not as easy in duplex/fourplex. I find many SFR that are as cheap as each unit in a duplex or quad (which also diversifies me a little better). SFR are much easier to manage - no tenants fighting with each other; best tenants prefer houses; tenant one in a SFR doesn’t get mad because tenant two has lower rent or got some favorable treatment. You can sell SFR retail to an owner occupant; a duplex or quad is more likely being sold to an investor who wants to buy wholesale. Many duplexes/quads are in areas of duplexes/quads, in which case you often compete for tenants based on price… If a few units lower the asking rent, then a few more do, uh oh. Possible with SFR, but not nearly to the same degree.
My preference aside, if you get the right deal on duplex/quad, they can still make a very good investment… I own a couple, and I hate managing them, but I bought them right and they make me money the same as my SFRs.
Best wishes,
Chris in FL
Re: First time investor starting point - Posted by ari
Posted by ari on April 27, 2011 at 10:24:28:
Hey CJ. This is a common question. As an investment specialist, I could help distinguish which one would be best for you. Contact me so we can discuss. I’d be more than happy to help you. Thanks.
Re: First time investor starting point - Posted by arlan
Posted by arlan on April 27, 2011 at 08:52:23:
Go buy a cheap house.