Any advice about Modulars ? - Posted by JDenney

Real Estate Investing
#1

Posted by JohnBoy on October 30, 1998 at 17:02:40:

I have a cousin that is doing good with buying and selling modular homes. He finds a lot in older neighborhoods that will allow a modular home put on them with a foundation. He pays around $2500 - $3500 for the lot and buys a new modular for around $30k - $35k. He does his own foundations and hooks up the electrical and gas. Then he sells them for $80k - $90k. After all his costs he’s making between $30k - $40k on each one. He is now a dealer also.

#2

Any advice about Modulars ? - Posted by JDenney

Posted by JDenney on October 29, 1998 at 15:30:24:

I have found a modular coming up for sheriff sale. I am worried about how difficult it would be to resell due to the stigma of it being a glorified trailer.
The modular is only 2 years old ,in good shape and on a country lot.I estimate the previous owner had about $80,000 in it and the minimum bid is $50,000.Any thoughts or experience would be appreciated .

Thanks, JDenney