I live in a military town. So can someone please tell me if this is a bad idea?
>Save up 15K >Buy a trailer on a lot, rent it out for 700 >Repeat for as long as possible >Eventually buy land and building my own trailer park
I'm trying to make 6 figures by the time I'm 25. My profession doesn't have a solid chance of doing this. (Network Admin)
No one in my family has ever made as much as I make right now. I come from a family who's background is poor drug heads (exempt my dad who is fucking based).
Christian Moore
Sounds great except for the trailer part. Do a house instead.
Trailers are pieces of shit and the inhabitants are trouble.
Grayson Hughes
Trailers are cheap and most people rent around here.
I love in the south so trailers are lived in by everyone.
Joseph King
Both of you are right. Rate of return on mobile homes is through the roof. If you are thinking of buying a rental property, look at a gross rent multiplier concept. You want to pay $15,000 and rent for 700/month. 15,000/700=22 months of gross rent pays back your initial investment. Generally speaking, GRM >50= shit tier prop that will be hard to rent GRM 51-75 will be in a low end area, but should be easier to rent 76-90 is still feasible if the property is in an area where rents and values should increase Anything over 90 better be in perfect shape and preferably near some water
Real estate appraiser here, btw
Aiden Murphy
Sounds risky buy BTC instead
Ryder Perez
interesting idea i like it
Hunter Torres
Si let's say I buy a by a mobile home for 15k (which gets you a top of the line trailer almost brand new) and rent it for 700.
What's my GRM?
Jacob Turner
22....
Daniel Harris
where are you gonna park your 15k trailer???
Isaac Martinez
Except you would still be paying lot rent so you would only be getting ~500
Logan Powell
This. Your GRM calculation is for dirt and building, Trumplet
Cameron Torres
I would imagine they would be high risk renters missing payments and damaging your property.
Could be wrong though
Caleb Brooks
ahaha fucking BIZ ahahaha
Christopher Martinez
Less than normal imo.
Most renters are military. BAH here is around 1100 a month. Most trailers are about 900 for rent so by chargering 700 ik undercutting the others while making dope ass money.
Landon Moore
OK so let me ask you this, if my GRM is equal to or greater than 50, what does that mean?
Benjamin Wood
When, in your honest opinion, do you thinka grm of 76-0 would be feasible? could you please answer, zi need help. I got a 1 on my sat verbal, thats why I want to rent trailers to hillbillies
Asher Hughes
76-90 grm
Jace Myers
Make sure you own the underlying land or you will not be able to make enough money.
Daniel Russell
But you won't own the land, you'll still have to pay rent for the lot. Which probably be 500-700, so your returns will be 0-200 a month. I'm sure there's insurance, maybe an HOA and who knows what other fees. I think it's a bad idea.
Henry Miller
There's lot rent retard. Around 3-500 a month in my city and most trailers rent for less than 700 so I'mguessing it's more there. You only make bank iI you own the park
Alexander Campbell
>I live in a military town
The enlisted are going to live in the barracks. The officers arent going to live in a fucking trailer. Im actually pretty confident they wouldnt even be allowed to rent a trailer because it would make the enlisted think less of them.
Why would you want to become a slum lord anyways? Its not going to be fun trying to stay on top of rent from people. I hated collecting rent from my 2 roomates in college.
Leo Green
>they wouldnt even be allowed to rent a trailer Its cheaper to live in a trailer than on the barracs.
they give you a base pay and housing pay. the housing pay is consumed 100% if you live on base, if you find cheap housing out side, yyou can keep most of that husing pay
Gabriel Russell
Your on the right path, but no cigar.
go on loopnet, go to advanced search, click on multifamily, under multifamily there is a sub section mobile home parks (MHPS) or trailer parks, click that.
Search USA/ other shit towns.
get crefcoa loan, buy park.
thank me avoiding the military
Bentley Lewis
Who wants to live in a trailer for 700? Also >network admin >shit
Mate what are you doing Network admins make 60k with a few years of experience
Caleb Sanchez
hassle trailer trash to put the electric in their name for the next 20 years
i feel sorry for people like you with no hopes or dreams. go to college.