I am just starting out and I do not have the ability to take out a loan for a single-family house. My only option seems to be mobile homes. People have been telling me not to do it and that I won’t turn a profit, but I think I can. I will do all the maintenance and repairs myself. Has anyone ever tried to rent mobile homes? Were you successful? I will be buying the land with the home on it. I also have a vacant parcel that I could put a used home on for about $17,000, but I cannot get a loan from a bank for this. Some people have told me that the only way to make a profit in mobile homes is to own the land and lease space to other people’s homes. I hope this is not the case because it is not what I will be doing.
Has anyone done this before? Should I just wait until I can afford a single-family home or even a duplex?