Return to the Manufactured Homes Forum | Post a Follow-Up

 o
Buying a Manufactured Home in San Jose, advice please

Posted by caduceus (My Page) on
Sat, Jan 27, 07 at 1:21

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


Follow-Up Postings:

 o
RE: Buying a Manufactured Home in San Jose, advice please

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....


 o
RE: Buying a Manufactured Home in San Jose, advice please

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.


 o Post a Follow-Up

Please Note: Only registered members are able to post messages to this forum.

    If you are a member, please log in.

    If you aren't yet a member, join now!


Return to the Manufactured Homes Forum

Information about Posting

  • You must be logged in to post a message. Once you are logged in, a posting window will appear at the bottom of the messages. If you are not a member, please register for an account.
  • Please review our Rules of Play before posting.
  • Posting is a two-step process. Once you have composed your message, you will be taken to the preview page. You will then have a chance to review your post, make changes and upload photos.
  • After posting your message, you may need to refresh the forum page in order to see it.
  • Before posting copyrighted material, please read about Copyright and Fair Use.
  • We have a strict no-advertising policy!
  • If you would like to practice posting or uploading photos, please visit our Test forum.
  • If you need assistance, please Contact Us and we will be happy to help.


Learn more about in-text links on this page here