TeddyBearNeil
Bandera, TX
Posts: 2
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| Posted: Sun Mar 30, 2008 6:33 pm Post subject: Buy and Fix a Trailer to Rent it out...April..Help me. |
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Hey April,
I have just assumed ownership of a lot in Bandera, TX. I read your saga and was impressed with the details. Hope you can help me out. This lot is 1/2 acre and has Water, Electricity and a Septic Tank. It also has overgrown weeds and cedar trees and a some other undesirable flora. My idea is to clean up the weeds and trees and level the land and put in a trailer and rent it out. Can you help me with some advice? A creek runs through the lot. Can you tell me how $$ it took for you to fix up that trailer that you bought? I pay a monthly payment of $ 108 for the lot. I am hoping if I can get in a livable trailer for like $ 5000, I could rent it out for like $ 250 bucks. Any other advice would be helpful.
Neil
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aprilconnett
Winston_Salem, NC
Posts: 186
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| Posted: Mon Mar 31, 2008 3:54 pm Post subject: |
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I don't really know how much $$ we have spent on our trailer. A lot of the stuff we were given (carpet, stove, A/C)and a lot more we bought used. Of course, we are actually living in it, now. We really need to have an electrician come in because the furnace won't read the thermostat. Just deon't have that kind of $$ right now.
Here is what we have had to do . . .
*replace all of the flooring and even some of the floor joists
*replace some of the walls
*replace the toilet
*replace the tub and shower (OK, so we still don't have the shower put in)
*replace the entire kitchen (cabinets, sink, fridge, stove, etc)
*re-plumb the kitchen
*change the stove plug on the end of the cord to match the outlet in the wall
*replace the windows (still have to do this)
*new doors
*replace the hot water heater
*actually build shelves for the pantry
Thre is still more, but I can't think of it all right now.
On the other hand. . .
For $5,ooo you should be able to get a trailer that is in pretty good shape. I am assuming that you alreadt have your place to live that is bigger than a 1/2 acre. The plot sounds really awesome. I wish I had a 1/2 acre to play with. And a creek!! Did I understand correctly that you are renting the land for $108 a month?
april
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TeddyBearNeil
Bandera, TX
Posts: 2
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| Posted: Tue Apr 01, 2008 2:26 am Post subject: I have only 1/2 acre and I don't live on it.. |
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$ 108 is my monthly mortgage payment... I don't rent it, I assumed ownership of the lot from a gentleman who was behind on the payments..and yeah a creek runs through the lot, but it ain't got no water in it...lol. just runs when it rains..I mean if I can find a renter who is willing to pay like $ 300 - 400, I could even put in a bigger trailer..
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aprilconnett
Winston_Salem, NC
Posts: 186
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| Posted: Tue Apr 01, 2008 7:44 pm Post subject: |
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If you weren't all the way in Texas, or if we were willing to move, I'd take it!! But seriously, I think you should be able to get a pretty decent trailer for the plot. Check in the papers. Here in NC, we have the Thrifty Nickel and the Iwanna papers. I don't know what your equivalent is, but these types of "swap shop" papers are usually full of trailers that people are trying to get rid of. Keep us updated.
april
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