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Old 07-28-2009, 11:09 PM
 
Location: Steilacoom, WA by way of East Tennessee
1,049 posts, read 3,992,828 times
Reputation: 703

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Howdy,

I have some land that I've been unable to sell. I'm thinking about putting a few mobiles on it to generate some positive income.

Choices:

New 1036 sqft 3 bed, 2 ba dbl wide for $43,000, likely rent for $695

or build a small stick built 2 bed, 1 ba for $37,000, likely rent for $575

I could also get a new single wide for $27,000 rent for $595.

I also thought about used, but by the time you pay to have it moved, not too much cheaper than new?

Thoughts? Trailer or stick built? The land is one piece and whatever is put on there will need to be sold as one piece when it's time to sell.

Tony
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Old 07-28-2009, 11:12 PM
 
6,034 posts, read 10,645,603 times
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Um...does your zoning allow what you want to do? And are the utilities already in place?
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Old 07-28-2009, 11:20 PM
 
Location: Steilacoom, WA by way of East Tennessee
1,049 posts, read 3,992,828 times
Reputation: 703
Quote:
Originally Posted by Mercury Cougar View Post
Um...does your zoning allow what you want to do? And are the utilities already in place?
County zoning, can do whatever, utilities to road, would be septic, but city water.
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Old 07-29-2009, 06:36 AM
 
26,585 posts, read 61,800,013 times
Reputation: 13161
Ten years from not the stick built home will have appreciated by 25% or more. The double wide will have depreciated by half. Twenty years from now the stick built will have appreciated by 50% or more. The double wide will be worth 1/4 what you paid for it. Thirty years from now the stick built will have appreciated and be worth at least double what you paid for it. You'll have to pay someone to haul the doublewide off. Food for thought.
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Old 07-29-2009, 06:44 AM
 
Location: NJ
23,783 posts, read 33,224,108 times
Reputation: 30580
Quote:
Originally Posted by Tony1790 View Post
Howdy,

I have some land that I've been unable to sell. I'm thinking about putting a few mobiles on it to generate some positive income.

Choices:

New 1036 sqft 3 bed, 2 ba dbl wide for $43,000, likely rent for $695

or build a small stick built 2 bed, 1 ba for $37,000, likely rent for $575

I could also get a new single wide for $27,000 rent for $595.

I also thought about used, but by the time you pay to have it moved, not too much cheaper than new?

Thoughts? Trailer or stick built? The land is one piece and whatever is put on there will need to be sold as one piece when it's time to sell.

Tony
In order to put a few mobile homes on it, the town would have to approve it. You also have to make sure waste can leave whether it's through the city hook up or septic.

I don't like the idea of mobile - as was mentioned they depreciate fast. 10 years down the road the town might make you haul them away. I know of one in my old town, they can't be over a certain number of years old.

I like stick built or modular but would make it a 3 bedroom at least. What about basement?
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Old 07-29-2009, 07:52 AM
 
9,803 posts, read 16,104,671 times
Reputation: 8265
I disagree with mobile homes ( especially double wides) depreciating that much.

That line of thinking is true if you run an ad and state the double wide is for sake and must be moved off the properrty. If the property is kept neat and sold as a house and land, you'll be ok.

For posters that state I'm wrong, I have looked at many houses ( stick built and double wide) and I rarely find a 10 year old double wide on land at a price lower than I could buy land, install a sceptic and driveway, and have a new double wide moved in .

Many people bought a parcel of land 10 years ago, bought a new double wide, kept the property neat and landscaped, and sold it for way more than their total initial investment.

Yes, if they would have tried to sell the double wide and said in their ad---------" must be moved off premises"------they would have lost money.
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Old 07-29-2009, 08:32 AM
 
26,585 posts, read 61,800,013 times
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Quote:
Originally Posted by marmac View Post
I disagree with mobile homes ( especially double wides) depreciating that much.
You need to look at the facts. They do, period.

Quote:
That line of thinking is true if you run an ad and state the double wide is for sake and must be moved off the properrty. If the property is kept neat and sold as a house and land, you'll be ok.

For posters that state I'm wrong, I have looked at many houses ( stick built and double wide) and I rarely find a 10 year old double wide on land at a price lower than I could buy land, install a sceptic and driveway, and have a new double wide moved in .

Many people bought a parcel of land 10 years ago, bought a new double wide, kept the property neat and landscaped, and sold it for way more than their total initial investment.

Yes, if they would have tried to sell the double wide and said in their ad---------" must be moved off premises"------they would have lost money.
It's the LAND that is appreciating, not the home. Talk to any property appraiser and they will verify this. Mobile homes are chattel, not real property. They have a title, not a deed. They are appraised using the equivelent of a NADA book, not a real property apprisal.
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Old 07-29-2009, 09:05 AM
 
9,803 posts, read 16,104,671 times
Reputation: 8265
My neighbor bought 5 acres of land, put a new double wide, breezeway, attatched garage and keeps his place immaculate.

Today, he could get twice what he has invested and that increase is not coming solely from that 5 acre parcel.

And yes, he is taxed quire steeply as the appraised assersor's valuation on his property ( land and double wide included) have soared.
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Old 07-29-2009, 09:15 AM
 
26,585 posts, read 61,800,013 times
Reputation: 13161
Quote:
Originally Posted by marmac View Post
My neighbor bought 5 acres of land, put a new double wide, breezeway, attatched garage and keeps his place immaculate.

Today, he could get twice what he has invested and that increase is not coming solely from that 5 acre parcel.

And yes, he is taxed quire steeply as the appraised assersor's valuation on his property ( land and double wide included) have soared.
Taxes ahve nothing to do with real estate appraisals. Two very different animals.
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Old 07-29-2009, 09:20 AM
 
9,803 posts, read 16,104,671 times
Reputation: 8265
taxes are based on an appraiser's valuation of a property.

You defenitely can attend a meeting to protest if you think the appraiser's valuation is --more-- than the market value.
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