Quote:
Originally Posted by Top Dawg
Buy an old mobile home for cheap. Put $1500 into it and do rent to own. Get your $1500 back on down payment and rent to own say for $15,000 at 15% interest. It's rent to own so you are not responsible for any repairs or fixes. Most of the people you will be dealing with most likely will have bad credit. So that's the only route they can go until they get approved for something better. Chances are you won't have anyone stay much longer than a year then you repeat the same steps again. That way you're not renting it, they are buying it and you don't have the headache of goin in and making repairs all of the time. And believe me it will stay booked. Always someone looking for a place to live.
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I have 3 I am doing this with, like Top Dawg said it will stay booked but be prepared for massive clean up, broken water lines, rotten food, flea infestation, and always painting when they move out. Mine pay but always late and always an excuse. I would put 2 duplexes there. Build them small and efficient, stained concrete floors and very simple. Then Section 8 them for guaranteed income.
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