4 Things you MUST DO when renting out a MOBILE HOME | RENTAL TIPS
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- Äas pĆidĂĄn 5. 09. 2024
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4 Things you MUST DO when renting out a MOBILE HOME | RENTAL TIPS
We just finished rehabbing our mobile home and it came out great! This is our first time screening tenants so its fresh in my mind, so I want to go over 4 things you must do when renting out your mobile home, or any property for that matter. Letâs go!
Rental properties are going to serve as our long term wealth building vehicle as well as creating passive income, but hereâs the catch if you property manage your own properties like you might in the start of your real estate journey its not truly passive. You have a lot of things you have, have to do in just to get it ready to rent. Thatâs what I want to touch on today. So letâs jump into it.
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đ MARKETS : SoCal, South Carolina, NE Florida, San Antonio TX, Reno NV
đ Buy Box | Real Estate Investing Parameters
âĄïž Mobile Home On Land (CASH OR CREATIVE)
âĄïž Mobile Home In Parks (CREATIVE ONLY)
â 2/2 +
â 1000 Sqft+
â 1960-1975 (50% of ARV)
â 1976 + (70% of ARV)
âĄïž Single Family Homes | Multifamily (CASH OR CREATIVE)
â 2/2 +
â 1100 Sqft +
â 1950+
đ EXIT STRATEGIES
â Fix and Flips
â Short Term Rental
â Wrap
â Anything Creative!
đ About Us :
Aloha! Weâre Alex and Lauren. We fell in love over a mutual passion of creating music! We are in a band called Aloha Radio . We have toured the country many times over performing our favorite songs. The 2020 shutdown made us realize we couldnât rely on music alone and needed to find a way to build true wealth and financial freedom so we could keep pursuing our love. We read RICH DAD POOR DAD and everything changed. Hooking up with a local mentor, Joe Homs, we started learning about all things Real Estate Investing. Our first year, 2021, we closed 10+ wholesale real estate deals and at the beginning of 2022 we started to buy and hold property and flipping houses. This channel is to document our journey from total beginner to financially free and hopefully in the process inspire you to get started today! Our favorite place in the world is Hawaii and we have a special little gray cat named Fiona. Nice to meet you!
Hey! I found your channel because I come on CZcams. Itâs almost like a last resort, looking for places to rent permanently. Iâm trying to get a feel for whatâs out there and where theyâre located and where Iâd like to live. Iâm looking in Florida only because I grew up in Florida before moving to Michigan 45 years ago.
No, Iâm 62 on Social Security and pension, female with a son thatâs 31 years old that helps take care of me living with me. He doesnât drive because he has medication resistant seizures, but he sure does help me because I struggle to get around physically due to osteoarthritis, but Iâm in good health and got a long life ahead of me.
Iâm single my husband passed away from cancer a few years ago and that cut all of our moving in dreams.đą
So here I am with my son, looking to rent somewhere on my budget in a warm location. I want to forever place that say that I can just be in the rest of my life if possible when I get to the point where I need to go somewhere then that will happen whether itâs to my second son who lives in Texas or into an elderly facility.
It has to be affordable for me, though I have just under $3000 a month income from Social Security and pension. I also own a home here in Michigan that I plan on selling when I find the perfect place to rent.
So, if you know anyone that can that has a place available in my budget this would be great! Iâm looking for a two bedroom two bath. I do have a pug, he is getting older. My son and I were clean people we do not do drugs or smoke vapes weâre not alcoholics any of that. I do have some osteoarthritis so I do have a little bit of a difficult time getting around and I donât like to drive alone.
Great videoâ€
Thanks for stopping by! What part of FL are you looking in?
@@thisisalexbarnett I am looking anywhere in Florida. I know itâs safer to be inland Sebring, Avon Park, I mean, but it Hass to be a safe place because I canât defend myself. L O LL O L. Anywhere 55+ or not a mobile home on a piece of property it doesnât matter as long as itâs in a safe area! I would like to have a two bedroom, preferably one and ahalf bath but a one bath will do. Anywhere in my budget I have a sister that owns a mobile home on the outskirts of Avon Park and frostproof. And my mom lives in Sebring out in the country in a double wide on a piece of owned property. sheâs 89 so she canât help., She lives with my niece. When you go to rent somewhere it seems like in Florida. They tell you you have to have 2 1/2 times your rent so if I get 3000 a month and that means 1000 for rent I guess they donât figure youâll pay your bills or something! L O L.
Hey, thank you for getting back with me. I really really do appreciate it.â€ïžâ€ïž
I like the energy! Good luck on your journey. Im a realtor in Pennsylvania, in case you need someone over here! đ
Thanks brother ! Are you working with investors? Anything off market ?
@@thisisalexbarnett yes sir, a lot of airbnb recently
My wife owns 25% of a decent size mobil home park with about 45 homes. We are looking to to buy a few mobil homes and renovate and put them in the park that my brother in law who owns the 75%. He said we could put 3 of them in the park to work on and not have to pay for the monthly lot space while fixing them up. The park is mostly full of renters and it needs work on roads and about 7 mobil homes that I have already been renovating to rent.
Since the park is not in the best shape or best neighborhood, I'm being encouraged to rent them instead of selling them due to less undesirable area. I prefer to sell and not have to deal with maintenance issues that will inevitably arise. My brother in laws plan is to make it a senior park one day, but I'm guessing this is 10 years down the road and I'm 55. Really dont want to be caught up with tenants renting. what are your thoughts?
A lot of great choices. I would probably flip if you're not up for renting. Especially in C or D markets, renting can come with a host of problems. If you're looking to cash out completely, I know buyers looking to buy mobile home parks. Making is a senior park could be great idea, but like you mentioned a lot can happen in 10 years. Please email me and we can discuss further! Thanks for checking in.
Lmao That's funny I'm 34 right I've rented some places now on my own home but to me it's logical to screen people I mean that just for me comes second nature we were talking about this last night you don't know who you're having stay in your investment. I do pass control for a living and certainly see in here nightmares.
Thatâs awesome. Iâm going to do a video on how I completely screwed this up and rented to a serial squatter by accident. đ
Is there any kind of license you need to be able to rent out a property?
No, You'll just want to get landlord specific insurance.
How to find them without being 55+. Been looking in the riverside, Moreno valley, Hemet area but i had no luck
To rent or buy?
Great video! From Houston Tx thinkin of doing the same on my 6 acres.
Awesome! Let me know if you need a used mobile. I have a few deals Iâm working on. - Alex
@@thisisalexbarnetthey what state are you in
@@uniquagunter9390 We're in CA. But we're buying nationwide.