Buying a Manufactured Home in San Jose, advice please

caduceusJanuary 27, 2007

Hi there everyone

I am single(newb to manufactured homes) and going to move to San Jose to work, and I hoped to live as close as possible to the company so I could bike to work every day, which led me to discover two reasonably priced manufactured homes right next to the company on Craigslist :

http://sfbay.craigslist.org/sby/rfs/265889509.html

http://sfbay.craigslist.org/sby/rfs/268091271.html

This doesnt mean I am going to buy from them immediately since that wouldn't be wise, but I was hoping to consult everyone here on whether it is worth it to invest in a manufactured home in San Jose.

I thought that it might be a good idea to buy the home and then rent out one or two of the bedrooms to other company employees living in the area. However, I am not sure if manufacturing house rooms are popular for rental, and also how many tenants would want to live under the same roof as their landlord.

Please share your thoughts , thanks!

Joe

Thank you for reporting this comment. Undo
irishdancersgram

I have no advice for you, but had to look at the homes..Both look really nice...I think you have the right idea, living so close to work is certainly a plus..You might find a renter that is new to the area, as you, and only wants to rent, say, 6 month, until they find a place to buy..Good luck with your new job and of course your new home....

    Bookmark   January 27, 2007 at 12:02PM
Thank you for reporting this comment. Undo
jkom51

Realistically, I think you'd find it very hard to get good tenants to live in mfg'ed rental housing. You also would need a good umbrella liability policy, which might be difficult to obtain for such a property. It's important to investigate what the mobile home park actually looks like, in person. Also, is the park itself owned or leased? If it's close to Cisco, the land itself is worth a fortune, and somebody might well want to buy it and stick a nice big hotel or condo development on it, which would leave mobile homeowners out in the cold.

You might want to talk to a local realty company that handles both residential sales and rentals. They might be able to advise you on how renters view the desirability of such a property. There's no point in buying it if you have to have renters to make the mortgage equation work for you, but it proves difficult to get and/or keep good renters.

Do remember that if you buy mfg'ed housing, there is NO profit value in it. It won't earn you any return on your down payment. You should consider it like paying rent, except that you can paint the walls any color you like.

Good luck and I hope you can find something.

    Bookmark   January 29, 2007 at 10:21PM
Sign Up to comment
More Discussions
Pack Rats Under My Park Model
We use our Park Model 3 months out of the year here...
zeke1312
price over factory invoice in Calif.
Any info on approximate price should pay over the factory...
peggy1595
Heat Pumps
Is your New manufactured home Energy Star certified...
PVHIII
Are the smaller single wides cheaper than larger?
I would like to eventually get a PINE GROVE single...
poaky1
What is the Cadillac of MH manfs.?
What brands are top of the line in mobile homes. We...
goldenbuckeye
People viewed this after searching for:
© 2015 Houzz Inc. Houzz® The new way to design your home™