Buying notes from institutions

[Redstar1324]

@Rob in Atlanta post:5

So, if you buy a mobile home for $3k and sell it for $600 down and $200/month for 5 years…do the math; you are getting a $2400 cash flow on a $2400 investment…100%…if you sell those payments for 18% discounted to a present value, you make a good profit (with no competition) and everyone wins…buyer gets private terms and a home for his family, I get a profit on my efforts, buyer of note gets 60 payments of $200 ($12k) for $7876.05.

Please explain this.

Where are you going to buy a mobile home for $3,000? Are you talking about just the home, or the home on land? And if it’s just the home, doesn’t this require you to pay to have it shipped?

Why are you saying it’s a $2,400 investment if you said you bought it for $3,000?

You sell it for $600 down, then $200/month for 5 years, but are you selling just the mobile home that someone will then have to ship to a piece of land that they already own? Or are you going to let them live on your land? Is this assuming that you own a mobile home park?

[Rob_in_Atlanta]

I’ve purchased hundreds of mobile homes on rental pads in mobile home parks…buy there, sell and finance there…you do need to take some precautions if you are flipping where there is a third party owner of the pads…at this point, I own my park and do deals there and get more profit for the dirt…the examples you referenced are for the mobile home only. There are unlimited opportunities for you to do the same.

Hope this helps.
Rob

[Redstar1324]

@Rob in Atlanta post:2

I’ve purchased hundreds of mobile homes on rental pads in mobile home parks…buy there, sell and finance there…you do need to take some precautions if you are flipping where there is a third party owner of the pads…at this point, I own my park and do deals there and get more profit for the dirt…the examples you referenced are for the mobile home only. There are unlimited opportunities for you to do the same.

Hope this helps.
Rob

That’s a good idea.

Just to make sure I’m following you…

Buy the mobile home in someone else’s lot, sell it as a lease purchase, then sell your lease purchase contract to someone else for cash?

Where do you find buyers for these lease purchase contracts?