buying & selling mobile homes - Posted by mike

Posted by Tom on July 01, 2002 at 17:00:30:

32.38%

buying & selling mobile homes - Posted by mike

Posted by mike on July 01, 2002 at 16:38:51:

My first deal–1981 2brm, 2bath, 14’x70’ with stove & refrig., 10’x14’deck, 8’x10’shed on a mhp lot. Purchase 6-11-02 for $6,500, sold 7-1-02 for 9,500. Terms: $1,000 down, pmt of $200 per month at 9% for 4yrs 4mos. Was this a good deal for me? What is my rate of return? Thank you, Mike (MO)

Re: buying & selling mobile homes - Posted by brad

Posted by brad on July 02, 2002 at 08:18:49:

i had to do some math before i responded and i lost my pocket buddy but you will be making 4900 dollers profit but you will not start seeing any profit for 28 months. you did good but i would find someone who buys notes and see if they would buy it from you, or even a partial so if you are not rolling in cash you can keep dealing and improving your position. if you cant get the note purchassed then i would suggest that you have the people who you talk to help you structure your papers so the next deal you get you can sell it if you want to. i know that you won’t get full price but if you think about it like closing costs you can justify it a little better.