Avererage deal in MO? - Posted by NEWBIE Larry (MO)

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Posted by Philip on January 16, 2003 at 18:09:46:

Larry,
I know nothing about this stuff, yet. But…individuals in my area of Missouri(SW)are usually upside down, and can only do ok if they sell to someone just like themselves who finances a 10,000.00 MH through a bank. However, repo’s and MH’s that a park owns but don’t want to finance, can be better priced.
All this from a guy who hasn’t done even one,…yet.
Financers have the deals instead of the individuals. Many of them that I have looked at(I’ve looked at probably 50) are even priced double their book value when sold by the current owner. They have planted a few bushes and put in a flower and want it to increase the value!

I think it is a patience thing.
I am on the trail of a few repo’s and have one park owner very interested in helping me with a few older homes for next to nothing, when the repos are finished, because he needs the lot rent bad.

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Avererage deal in MO? - Posted by NEWBIE Larry (MO)

Posted by NEWBIE Larry (MO) on January 16, 2003 at 15:41:33:

To anyone who has been dealing in Missouri. Im a newbie at this and Ive been talking with people who have their MH for sale, most of them are 1983-1996 asking prices between $6000-$11000, and not wanting to deal even with cash today, they will only drop their price $500 dollars. A few of them have been trying to sell since summer and the homes are vacant, now that would seem to me like a motivated seller.

Just wondering how to get them to come down on price for a lonnie deal. Or is that the average lonnie deal in MO?
Have read both books like 3 times. Any info would be appreciated for this rookie in MO.

Thankyou all,

Larry in MO