Re: Investing in a trailer to rent out - Landlord Forum thread 358044

Re: Investing in a trailer to rent out by Garry on July 1, 2018 @14:13

Usually they are bad investments, unless you buy it way under market value of similar trailers, AND you are a seasoned LL/investor who knows how to get good tenants, that won't tear up your place, or cause problems in the mobile home park. Yes, your numbers may make sense (profit or loss), but there are always 2 things you can't ever control-----your tenants behavior, and the land underneath your trailer.

If you get in the wrong tenants, you may have to evict them, just as the last owner did. Do you know the eviction laws of your state, and can you evict someone if need be? (at minimal costs, or will you have to hire a lawyer to do it). Are you prepared for possible damages, and the extra costs involved in getting it back to a rentable condition again?

If you get in the wrong tenants, and they are causing problems in the MH park, what if the owner of the land tells you (the owner of the MH) the tenants have got to go, even if they are in a middle of a lease with you, and are paying you rent on time? If you fail to evict your tenants in a timely manor, the owner of the land could give YOU a 60-90 day notice for YOU to REMOVE your trailer from their park. NOW what are you going to do? How much will it cost you to move your MH out of a MH park if the owner doesn't want you (and your bad tenants) there anymore? (and remember, you have to have a place to move it TO, first).

So, unless you are well-seasoned landlord, with multiple years of experience and tenants behind you, I would suggest you don't invest in mobile homes for rental purposes.

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