Posted on: 27th Sep, 2013 12:28 am
I want to buy a mobile home with cash and then I plan to rent it out in a trailer park. Is this possible? And when I rent the property, I assume the tenants will have to pass through a background check, isn't it?
Hi Doddy,
Yes, you can definitely buy a mobile home with cash and rent it out to someone else. You can definitely check out the background of your tenants before renting them the property.
Thanks,
Jerry
Yes, you can definitely buy a mobile home with cash and rent it out to someone else. You can definitely check out the background of your tenants before renting them the property.
Thanks,
Jerry
Hi Doddy,
You can contact a property management company and they may help you in checking the background of the tenants.
Thanks
You can contact a property management company and they may help you in checking the background of the tenants.
Thanks
Yes, you can definitely do that, as long as buying the home in cash does not put you in a bad spot, financially. Buying with cash and then renting is a good idea because you have no debts or payments on the house and can then rent it for what you want or what the market will support. Before renting, I would check: credit score, payment history, and do a background check on any potential renters. This article: http://www.dailycreditmonitoring.com/who-can-access-a-credit-report/ has some good tips on how you can get those reports.