Local economy report
this week i worked on removing old insulation underneath a second-hand mobile home.
used mobile-home: $5000
transportation:$1500
installation:$12000
repairs & drainage: 2 men $15 an hour digging/holding boards/smoking
$25,000 total to install in existing mobile-home slot
$700 per month rent
~30% investment return
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why doesn't the investor take any of the many vacant houses instead?
because they cost at least $150,000 to turn around and rent for ~1200-1500
do the tenants pay? yes. they earn 17$ an hour at the furniture factory. in this economy everyone has jobs if they want them, it may not be the job they want or the pay they want.
Demand is high and supply especially for family housing is low.
Mobile-home demand is booming.
Many of the tenants come through the year long local addiction recovery program.
