L/O Mobile Homes?

Recevied a call from a motivated seller in regards of this mobile home. THey were asking 79K for it inlcuding the 2/3 acre lot it sits on. Then they lowered it to 75K a month later. I talked him down to 69K. It is a 1,350 sq. ft 3/2. I found out that they purchase it for 59K a year ago. I called to get comps and found out it would prolly be around 65k - 70k. I was planning on giving them an offer Lease 2 years for their mortgage payment of $585.00/month for 2 years with an option to buy for 63K. Im willing to go up tp 65K. Then Sulet it to tenant/buyer? What do you guys think?

I predict a successful creative real estate investor here!

Way to go! :wink:

Remember, either raise the bridge or lower the water!
Get the contract, assign it ASAP. Forget about Positive Cash Flow and closing profits.

Just get the deal and assing the contract. Focus on the little deals and the big ones will follow!

To your success,

Diana Fontanez

Great idea. I dont know where my brain has been? LOL!

Its been there all the time! lol

Just think outside the box and be creative.

To your success,

Diana Fontanez
Lease Purchase Specialist and Consultant

What I would recommend is you make sure on this mobile is if is sitting on a foundation - converted to real property.

Hate to rain on the parade but…where’s the deal here? Without knowing any specifics on the trailer or land it might not be a deal? Mobiles depreciate so their value goes down, not up. The land value should appreciate but not to much to make this a great deal. They bought it for 59K a year ago. So in one year’s time its now worth 65-70K? Remember you make your money when you buy not when you sell. If your banking on buying this now and “speculating” that this will appreciate to make your money I would say don’t do this. Just because they have come down from their price doesn’t mean this is a smart deal as an investor. Think this through a little bit more.