Profile picture for saywhat2012

I want to rent to own a small mobile/manuf. home on a single-wide lot.

I cannot buy out right.  I get a steady income of $1227.00 a month.  My bank (Wells Fargo) likes me.  I do not want to get into my retirement account.  I am currently paying $322.00 a month rent.  Why not pay that for a rent/lease to own?

Natasha K. Johnson
saywhat2012@comcast.net

Do not waste your time trying to get me to buy a $100,000+ house.  I don't need one.



 
  • November 09 2013 - Spokane
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Answers (3)

Profile picture for wetdawgs
SWMH = single wide mobile home

Rent to own is a very rare category of property.  It can be very risky for the buyer with potential to lose a lot of money.   It will require a large down payment, and if you can't finance in your name within two to three years you'll lose your money.    So, renting is safer while you build up whatever is necessary to purchase outright.
  • November 09 2013
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Profile picture for saywhat2012
What is a SWMH?  I rent an apartment.  Yes, why buy a mobile home if I still have to pay lot rent.  That's why I'm hunting for a trailer with a lot.  What am I looking at in Water,Sewer, etc., and property taxes?  I do not drive.  So as long as I'm near a city bus stop, I'm OK.  Thank you for taking the time to answer my question.  I know I may be on a fool's mission.
  • November 09 2013
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You might as well. There is the moving hassle. Is the lot a rental space, or a deeded lot, that you would be buying? If it is just the SWMH, that would allow you to live with only lot rent at some point later. Lot rent can increase, ridiculously, and moving that SWMH is expensive. Do you live in a SWMH, now, for $322?
  • November 09 2013
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