Ok, so here I am looking for SFH houses and I start coming across deals that luckily I have read about in Lonnie’s book and read in other REI forums about mobile homes.
1984 14x70 2/2 Lot rent $400
needs carpet, sheet rock patch here and there, most all wood between interior and exterior windows looks to have no paint and cracking, master bath looks to be redone, but now looks big and empty with only a tub and small sink cabinet (the room is bigger than the 2nd bedroom almost).
The park is in a very wealthy town within the DFW metroplex and the schools here are AWESOME. People try to find affordable housing in the district so their kids can go to school there. You can not find a 3/2 in the city limits under 150k and most are at 200k and above. 300k houses surround the park on 3 sides with the elementary school across the street.
The guy has gone from 7k to 5k and I am looking at offering MUCH less like 2k, but I will let him try to name is rock bottome price for cash now.
Anyone got questions about something I have not thought about or ideas to make things better? Seems liek if he would take a low Lonnie offer I would be making a good deal on my cash. I figure ti would sell easily enough financed for $8k and $1,000 down?
Also in the same complex I found a really tore up one. It might be a freebie, but if I have to ‘redo’ the roof and patch up a few protions of the siding is it worth it? I mean I know the money is worth fixing up but I wonder if my time is and the $400 lot rent that I might have to pay… 