Posted by Dan - GA on January 21, 2004 at 16:41:21:
David:
Where are you located? In CA, that’s probably a good deal. Any where else, it probably isn’t.
Have you read Lonnies books on this process? Many people on this website would pay lees than $1000 for that trailer, some may even be able to get it for FREE. How long can your friend afford to make $325 lot rent payments? How long can you afford to make those payments until the house is sold? Is it in a park? Do you know the PM? Will they let you buy and sell in their park? ie will they approve your buyer and let you off the monthly rent hook for the space?
Hello, I want your opinion on this buy i might make. I have a friend with a 1983 skyline mobile home, she and her husband are going to buy a home and want to sell their mobile home to me. She will just sign the papers over to me (I own it immediately) and she’ll let me make the payments. She wants only $3,000.oo for the mobile home, with no down payment. (the lot fee is $325.oo a month) The mobile home needs minor repairs (new carpet, new kitchen linoleum, and fresh pant, and heat tape around the pipes. It has central air, a new roof only 3 years old. I have looked at other similar homes and they are going for at least $6500.oo - & she said her mobile home was valued at $13,000 she was told. ANy advice is GREATLY appreciated!! Let me know if you think this is a good deal/investment. Maybe i can rent it out to someebody, sell it in the future, or flip the property and pocket the profits. Thanks for your time. My email is: david@davidapub.com if you could send my your opinions to my email address that would be nice. Have a nice day! - Sincerely, David Ankenbrant