Advice for a Noob - Posted by dave

import · December 11, 2007, 11:58am

Posted by Gary on December 12, 2007 at 21:49:55:

Nothing profound. I have recently had several buyers that lost their homes thru foreclosure and are still wanting something to call their own. My normal buyer is an apartment renter that wants to own something and reduce their housing expense. Both applications will need scutinization beyond their low FICO scores. Gary

import · December 11, 2007, 11:58am

Posted by dave on December 11, 2007 at 12:58:09:

hey everyone,

never really thought of mobiles till i found this site. i’ve done tons of house rehabs and flips and this business looks to be much more stable in the long run. plus i like the idea of creating the income once and getting paid for that work for years.

question: in this economy (i’m in michigan) i would think these ideas would work well. am i right?

i’m just getting started with this and have a few bucks to buy with.

i’m not interested in rehabbing houses any longer, at least not till the economy here improves. it’s getting way too hard to get even the good buyers, which are few and far between, financed due to seasoning issues and the general melt down in the mortgage industry.

any advice or suggestions would be appreciated

thanks

import · December 11, 2007, 8:45pm

Re: Advice for a Noob - Posted by Gary

Posted by Gary on December 11, 2007 at 21:45:09:

You may well find a bunch of prospects who were getting by not too long ago, but now need lower cost housing. I have found a whole new type of buyer calling to see my inventory. Gary

import · December 12, 2007, 10:59am

Gary, tell us more… - Posted by Melissa

Posted by Melissa on December 12, 2007 at 11:59:44:

Please tell us more about this whole new type of buyer calling about your inventory…this is quite interesting.

Also, are you finding they have money but no/bad credit or that they have LESS money for a down payment?

Melissa