The Manufactured Housing Forums

Hello, all.....I'm still looking for affordable land in San Diego to put a manufactured house but have had no luck so far. I came across a development/community here where you can purchase the manufactured house but not the land (land/lease deal). Lease rent can to from $558.00 up to $720.00. This will be in addition to my mortgage loan for the house purchase. They are beautiful homes ( lot of Silvercrest, Oakcrest, etc.) and it beats living in an apartment or condo. I have been renting a beautiful 2-story house for years with no tax write-offs. I feel that I would own my own home and the land/lease rent is tax deductible. I know it's not the best investment but it's good living and with a tax write-off. A couple of homes I'm interested in are selling for $145,000 up to $165,000. These are not Silvercrest "Manors" and, of course, you do not own the land. I know what manufactured houses sell for and these are most likely overpriced because of the housing market here, but as far as I can see, they are not having any trouble selling these homes.

Is anyone out there familiar with this kind of setup? Any pros/cons opinions or input would be appreciated. Thank you.

I think I would check with my tax professional about the lot rent being deductable..
I do not think it is...The interest on the home is though..

I was told by a the gal selling the home, that I was interested in, that it was deductible, but then again she wants to sell her home. I'll check for myself. Thanks.

Good move...this sales person will not be paying your penalties and interest on disallowed deductions...

Make her aware of her error..This makes her sound very inexperienced or a plain dishonest...Neither is very good for a sales person...