What do you think about mobile home investment from the URL below:
http://www.returnfareinvestments.com/ReturnFare/default.html
http://www.returnfareinvestments.com/ReturnFare/default.html
What do you think about mobile home in QLD
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Sounds "dodgy" for want of a better word...
Cheap website - eg, Home page shows "default" on browser header.
Poor writing - eg, "Others are not therefore are cleaned, degreased and left on the bus (not sold for scrap). This keeps the value of the bus as they are decreasing in numbers every year. Keep a bit of History and make some money."
Where ARE these things - "Buses are not on a caravan park; these buses are on Private Property"
Strange claims to legitimacy - "Now 36 he has a substantial property portfolio, trades profitably in shares and is the Founder of several Companies."
"Founder of several Companies" - Wow!! How many are profitable and still operating?
But caveat emptor... some DD may show these as the best thing since sliced bread!
But my spider sense is tingling...
Cheap website - eg, Home page shows "default" on browser header.
Poor writing - eg, "Others are not therefore are cleaned, degreased and left on the bus (not sold for scrap). This keeps the value of the bus as they are decreasing in numbers every year. Keep a bit of History and make some money."
Where ARE these things - "Buses are not on a caravan park; these buses are on Private Property"
Strange claims to legitimacy - "Now 36 he has a substantial property portfolio, trades profitably in shares and is the Founder of several Companies."
"Founder of several Companies" - Wow!! How many are profitable and still operating?
But caveat emptor... some DD may show these as the best thing since sliced bread!
But my spider sense is tingling...
It has that really dodgy feel, but maybe it is legit.
Comparing to normal resi (I didn't read much on their website):
- What is stopping the owners from just putting another vehicle on the site if there is demand for more? Supply is completely unknown.
- What do you legally own, just a vehicle that you are parking on someone's land? It is the land value that appreciates. In 10 years time your rent may have gone up, but then so has the lease for the land you are parking on.
- Is landlord's insurance (which they recommend) actually obtainable?
- No choice over who manages the "property".
- No real leverage.
Edit: You may be getting the 16% return, however the actual asset that you own (the bus) is also depreciating.
Edit 2: This has really got me thinking...
"Mobile Home / Buses are not on a caravan park; these buses are on Private Property
(we aim for 5 to 10 year land lease)"
"One bus Investment of $25,000 = $4,130 pa = 16.52% return"
Assuming 16.52% return was NET and AFTER tax and you were a cash buyer who didn't have to repay any interest at all (which it isn't), your original investment of $25,000 would take 6 years to pay off.
If you only had a 5 year land lease, at the end of those 5 years you are still owing somewhere around $4000. At this point you need to start paying to lease new land which then cuts significantly into your $4000pa income.
RE: Onselling. Who would pay even $25,000 for one of these if you only have a year or two left on your land lease, as once it is up the only thing that has any value (as you don't own any land) is the old bus that now needs a few thousand spent on a reno?
Comparing to normal resi (I didn't read much on their website):
- What is stopping the owners from just putting another vehicle on the site if there is demand for more? Supply is completely unknown.
- What do you legally own, just a vehicle that you are parking on someone's land? It is the land value that appreciates. In 10 years time your rent may have gone up, but then so has the lease for the land you are parking on.
- Is landlord's insurance (which they recommend) actually obtainable?
- No choice over who manages the "property".
- No real leverage.
Edit: You may be getting the 16% return, however the actual asset that you own (the bus) is also depreciating.
Edit 2: This has really got me thinking...
"Mobile Home / Buses are not on a caravan park; these buses are on Private Property
(we aim for 5 to 10 year land lease)"
"One bus Investment of $25,000 = $4,130 pa = 16.52% return"
Assuming 16.52% return was NET and AFTER tax and you were a cash buyer who didn't have to repay any interest at all (which it isn't), your original investment of $25,000 would take 6 years to pay off.
If you only had a 5 year land lease, at the end of those 5 years you are still owing somewhere around $4000. At this point you need to start paying to lease new land which then cuts significantly into your $4000pa income.
RE: Onselling. Who would pay even $25,000 for one of these if you only have a year or two left on your land lease, as once it is up the only thing that has any value (as you don't own any land) is the old bus that now needs a few thousand spent on a reno?
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Mobile homes sound good . Could anyone tell about their specifications and their prices so that we think about purchasing them.
Did you look at the link or read the first post?
I would wonder how they are getting this through councils. Most farmers don't have sewerage to their homes let alone their back paddocks! Same with water and electricity, and yet they say these buses have all three connected. It would cost heaps to get it there. I am only on 5 acres and have to have septic tanks.
Sounds like a deal from the dodgy brothers to me.
Sounds like a deal from the dodgy brothers to me.
Hmmmm uummmmm maybe not ....BUT....
IF these guys are for real and they have done a ton of work with Centrelink,
there may be an opportunity to buy cheap land in the far outer suburbs, and do this kind of "development" on your own land.
Depending on their perception of "close" to the Brisbane CBD, areas around Caboolture or Ipswich could work. A bit further north and Gympie could also be viable.
They are talking of only a 2 acre parcel of land.
I guess my point is, IF they have done the legwork and set the precendent, this could be an opportunity to replicate the idea, make some $$ while land banking to wait for development to become closer.
Maybe some further investigation
IF these guys are for real and they have done a ton of work with Centrelink,
there may be an opportunity to buy cheap land in the far outer suburbs, and do this kind of "development" on your own land.
Depending on their perception of "close" to the Brisbane CBD, areas around Caboolture or Ipswich could work. A bit further north and Gympie could also be viable.
They are talking of only a 2 acre parcel of land.
I guess my point is, IF they have done the legwork and set the precendent, this could be an opportunity to replicate the idea, make some $$ while land banking to wait for development to become closer.
Maybe some further investigation
I have never seen mobile homes but what i think of them is that theses homes are convenient and good to be escaped from natural disasters.
The second basically pointless one sentance reply to this thread by a new user to the forums who had something positive to say about these.
Coincidence?
Hi,
Most of my thoughts already mentioned,
Cheap and low info website, a Lot more info needs to be available.
Many mentions of how much money you can make upsets BS Meter.
Large application form on front page upsets BSM
Private property, multiple mobile homes = Council approval required yet no mention of it.
No mention of come and have a look at our community.
These homes do depreciate quite rapidly so that would need to be taken into account when doing % return.
I hope it is not in a cyclone zone as they do disintegrate rather spectacularly when hit.
The idea of buying a mobile home in an authorised location could have merit but I would rather be dealing with someone a bit more open with their details.
Most of my thoughts already mentioned,
Cheap and low info website, a Lot more info needs to be available.
Many mentions of how much money you can make upsets BS Meter.
Large application form on front page upsets BSM
Private property, multiple mobile homes = Council approval required yet no mention of it.
No mention of come and have a look at our community.
These homes do depreciate quite rapidly so that would need to be taken into account when doing % return.
I hope it is not in a cyclone zone as they do disintegrate rather spectacularly when hit.
The idea of buying a mobile home in an authorised location could have merit but I would rather be dealing with someone a bit more open with their details.
Except if you read the website, the tenants can't drive the mobile homes because they don't have the keys, so they'll have to stay put.
Are there any LGAs in South East Qld near a CBD, a Westfields and allow any permanent accommodation in caravans, let alone "trailers" or motorhomes? Plainlands, near the Uni at Gatton, has a Woolworths. Maybe they meant Woolworths rather than Westfields, and by CBD they mean Dalby or Chinchilla, not Brisbane?
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