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Going to Look at a Rental House Tomorrow

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  • Going to Look at a Rental House Tomorrow

    I'm going to look at a rental house tomorrow. Single family house. Good location and school district. It's been on the market a while. I know the seller and price is negotiable. It only needs minor repairs to get it rent ready.
    I'll keep everyone posted
    Brian

  • #2
    Can you post pictures?
    james.c.hendrickson@gmail.com
    202.468.6043

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    • #3
      Originally posted by james.hendrickson View Post
      Can you post pictures?
      Sure. I'll take a few while I'm there tomorrow evening and post them afterwards.
      Brian

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      • #4
        single wide.jpg
        How can you have any pudding if you don't eat your meat?

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        • #5
          Ummm...that place need some work.
          james.c.hendrickson@gmail.com
          202.468.6043

          Comment


          • #6
            Originally posted by james.hendrickson View Post
            Ummm...that place need some work.

            Just a little fixer upper.
            How can you have any pudding if you don't eat your meat?

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            • #7
              Originally posted by TexasHusker View Post


              Just a little fixer upper.
              Looks move in ready to me.
              Brian

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              • #8
                Originally posted by bjl584 View Post

                Looks move in ready to me.
                Chain a dog in the front yard and you're all set.
                How can you have any pudding if you don't eat your meat?

                Comment


                • #9
                  The really sad part is many people are willing to live in more modest conditions like that. Thats especially the case here in Oregon were economic conditions in many rural parts of the state aren't very good. People will get a single wide or double wide trailer and plop it down on some desert land.

                  For example, here is a place out in Burns, Oregon (of terrorist/militia takeover fame).




                  The trouble is that appreciation expectations for single and double wide trailers is modest at best. So, its actually a value trap. Poor people get low quality housing which actually loses value or goes nowhere, helping to keep the owners poor and degrading the prosperity of the community.

                  james.c.hendrickson@gmail.com
                  202.468.6043

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                  • #10
                    We had to cancel last night. It was negative 6 degrees here last evening, so we rescheduled for Friday evening.
                    Brian

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                    • #11
                      Originally posted by james.hendrickson View Post
                      The trouble is that appreciation expectations for single and double wide trailers is modest at best.
                      There is no appreciation expectation for a trailer. On the other hand, they are often a fraction of the cost of a stick-built home. They are a good choice in certain applications and my post was not meant to demean folks who live in trailers. My dad grew up in a single wide trailer until high school. His dad worked on a pipeline crew and they would have to relocate several times throughout a year to move with the job, so a trailer was by far the best option. They were on the very low end of the middle class scale, but my grandad was a very hard worker and took pride in what he provided for his family.

                      Myself included, we can tend to judge folks who haven't been given the opportunities in life that we have, and that is wrong. I am going to really start paying more attention to that.
                      Last edited by TexasHusker; 01-31-2019, 06:48 AM.
                      How can you have any pudding if you don't eat your meat?

                      Comment


                      • #12
                        Originally posted by TexasHusker View Post

                        There is no appreciation expectation for a trailer. On the other hand, they are often a fraction of the cost of a stick-built home. They are a good choice in certain applications and my post was not meant to demean folks who live in trailers. My dad grew up in a single wide trailer until high school. His dad worked on a pipeline crew and they would have to relocate several times throughout a year to move with the job, so a trailer was by far the best option. They were on the very low end of the middle class scale, but my grandad was a very hard worker and took pride in what he provided for his family.

                        Myself included, we can tend to judge folks who haven't been given the opportunities in life that we have, and that is wrong. I am going to really start paying more attention to that.
                        There's a trailer park up the street from me. It's not the prettiest thing, but all the units are occupied. I want to find out who owns it. There is quite a bit of cash flow coming off of it. Might be worth a look to check out the books on it.
                        Brian

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                        • #13
                          Just add a couple junk cars in the yard with coon dogs tied up to them.

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                          • #14
                            Originally posted by bjl584 View Post

                            There's a trailer park up the street from me. It's not the prettiest thing, but all the units are occupied. I want to find out who owns it. There is quite a bit of cash flow coming off of it. Might be worth a look to check out the books on it.
                            BJ,

                            Why not buy some shares in a company that owns trailer parks? I've been eyeing United Mobile Homes (UMH) for a while. They have a solid 5.6% dividend, but their recent financials seem a bit weak. After all, once you factor in all the hassles of directly owning a manufactured home community, you might be better off going the publicly traded route.
                            james.c.hendrickson@gmail.com
                            202.468.6043

                            Comment


                            • #15
                              Originally posted by james.hendrickson View Post

                              BJ,

                              Why not buy some shares in a company that owns trailer parks? I've been eyeing United Mobile Homes (UMH) for a while. They have a solid 5.6% dividend, but their recent financials seem a bit weak. After all, once you factor in all the hassles of directly owning a manufactured home community, you might be better off going the publicly traded route.
                              I am going to go out on a limb and bet that the ROI on a trailer park is in the high teens minimum and likely low 20s per year. You won't get that in a publicly traded anything.
                              How can you have any pudding if you don't eat your meat?

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