OT: The math about Renting Single Wide Trailers
JuiceBox69
Fucking on Young N Dumb Chicken Heads
I know I've been off topic for a min but let's face it some times we need to stop spending money and look into ideas on how to print some money.
From some research I've been doing I can buy cash out a decent trailer used for $5,000-$10,000. Move it into a decent trailer park and rent it out. I'm able to rent the place out for $600-$800 per month.
My expenses will be $200 in lot rent witch includes garbage removal and mowing.
My ROI would take one to two years to get out of the red and into the green but with proper bankroll management and proper property management so I can always have enough to fix repairs and be a good land lord it could be very profitable being a debt free business.
The goal would be to gain 10 single wide properties that would give me roughly six figures give or take every year debt free by the time I'm 45. Then I could start buying real houses every two years in cash then rent those out.
By the time I was 60 It in theory could be I owned
20 real properties worth $200,000 a piece and renting out $1,200 a piece on average and all of it debt free.
I understand that real estate is a leverage game but that's not the idea I'm using. I will never sell a property. My goal is to build a monthly income and using renting homes as my business.
I live debt free and any business I get into must be a debt free business. This is why I figured I could build a foundation of ten single wide that would then give me the income to buy in cash every year to two years a real home to rent out to increase my positive monthly cash flow.
Feel free to give me advice on this speculation of mine...thanks for all comments
From some research I've been doing I can buy cash out a decent trailer used for $5,000-$10,000. Move it into a decent trailer park and rent it out. I'm able to rent the place out for $600-$800 per month.
My expenses will be $200 in lot rent witch includes garbage removal and mowing.
My ROI would take one to two years to get out of the red and into the green but with proper bankroll management and proper property management so I can always have enough to fix repairs and be a good land lord it could be very profitable being a debt free business.
The goal would be to gain 10 single wide properties that would give me roughly six figures give or take every year debt free by the time I'm 45. Then I could start buying real houses every two years in cash then rent those out.
By the time I was 60 It in theory could be I owned
20 real properties worth $200,000 a piece and renting out $1,200 a piece on average and all of it debt free.
I understand that real estate is a leverage game but that's not the idea I'm using. I will never sell a property. My goal is to build a monthly income and using renting homes as my business.
I live debt free and any business I get into must be a debt free business. This is why I figured I could build a foundation of ten single wide that would then give me the income to buy in cash every year to two years a real home to rent out to increase my positive monthly cash flow.
Feel free to give me advice on this speculation of mine...thanks for all comments
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23 comments
A. "Lifestyles of the Rich and Famous."
Maybe I will start a meth lab next
Maybe trailers are a good idea in Silicon Valley where box houses go for $3M. Rent to 21-yr-old geek tech workers. Go into business with SJG.
Juice, what happened to renting your moms spare bedroom out to a stripper? I mean you go from subbing out a room to get some free pussy to now buying a trailer? Man you've been watching those late night info-mercials on how to get rich quick again haven't you?
Upsides to real estate (versus 'paper') as your first investment:
+you are more in control
+leverage with other people's money
+tax advantages
+tangible asset
+(maybe) easier to analyze and quantify for a newbie investor
+less visible volitility
+source of ownership pride
+government assistance (incl. bailouts for mortgage assistance)
==
Don't get me wrong there are definite downsides to real estates (or trailers) over paper investments like stocks or treasuries. Also it's harder to deversify in real estate for the sale $$ investment versus something like Dougster is proposing. Real estate is also a lot of work -- sharkhunter detailed that vividly in some recent posts. Link: https://www.tuscl.net/postread.php?PID=4…
Thanks for allowing me to comment.
I don't know if I'd want to be renting to trailer people though.
SJG
Got my 401k almost maxed out to what the government allows.
Heading back to school on the company I work for dime to better advance myself.
Got about $5,000 in various stocks in the market and looking into doing more every year.
Now I'm looking for creative side business I can run in my free time for extra income.
Let's not forget my poker bankroll lol but I'm sure not all would agree this to be an investment lol
I'm just trying to make sure when I'm 50+ that I can travel and club and sugar bitches like some of you older gentleman do now.
As always thank you for helping a younger man and getting me str8
SJG
Most stuff is like this, if you can afford to pay, then you won't need to. It is only poor people who are forced to pay.
SJG
When the landlord keeps the rent at are slightly below market rates. The landlord just gets garbage tenants. The *good* tenant never seem to apply or stop by. I don't know why that's the case.
But when the landlord raises the rent (from say $500/mo or $700/mo to $700 or $900, respectively) by $200/mo, then suddenly he or she gets better tenants. I don't know why that is. You'd think the better tenants would show up for the better deal. Not always. However the domicile needs to be in tiptop shape to not scare away the quality renters.
I wonder if this applies to single-wide trailers with Millennials?
?
I would have fumigated the whole trailer before I lived in such a place. I guess it's what you get used to. I occasionally find and kill a spider or bug in my house maybe once every few weeks. My friend in his trailer lived with them crawling around with the lights on.
For an interval I managed an apartment building. It is not always a nice situation. I would not want to personally be renting people their homes, because sometimes it would be necessary to evict. Not territory I want to go into.
SJG
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