Posted by Dr B (OH) on July 12, 2003 at 22:32:03:
I’ve been trying to sell a 2/1 for a week or so. I put up a sign and start working on the most obvious things first. Or the least likely a buyer can afford to fix.
Example: Problems with this '87 2/1 were mainly nicotine and grease ceiling and walls. CAC supposedly not working, crummy floor tiles in bathroom, worthless carpet in 1 bedroom. Most of my buyers are not going to buy a MH with $1000 down and THEN do the big ticket stuff. I discovered I only needed a fan motor for the CAC (compressor works). Took it out myself got a new one at the local elec. motor repair shop $116. I did spend about 4 hrs. on the project including the trip to the shop. Beats a $700 new unit uninstalled.
I then started to paint (with KILZ) the ceilings and walls. Two lookers. The second couple have called me three times and have a downpayment. THey will take it tomorrow as is (no more painting or anything else) as long as I provide a stove (have one) and fridge (will get one).
P.S. bought it for $300.00 selling for $600 down, $300/mo X 18 mo.
Dumb Newbie Mistake - Posted by Casey Dunham
Posted by Casey Dunham on July 10, 2003 at 11:55:16:
I bought DOW about 3 weeks ago, but I have been looking at MH’s for a long time. While I was waiting for the book to arrive I found a home. I found one that I really liked and stupidly bought it before the book arrived. In the first few chapters I realized I made a mistake that newbies should not make. I bought a home that needs to be moved without fully understanding what would be involved. I bought a 2/1 bath for $2,000 feeling that it was a good deal because the inside has been mostly re-modeled. I figured it would end up costing about 3500 when it was all moved and ready to sell and I would sell it for 6500 or so…Wrong. If I get it ready to sell it will probably cost about 5,000. I’ve already got $3,120 in it for just the home and the move. But now it needs a A/C unit, new skirting, utilities hook up fees, stairs, and a little paint.
Anyways, my question is should I go ahead and finish it all up, or should I try to sell it AS-IS for less. Any suggestions are welcomed and appreciated.
Re: Dumb Newbie Mistake - Posted by Bob(OH)
Posted by Bob(OH) on July 11, 2003 at 02:11:49:
Dont need me to tell you that.
So, now that your in a fix, I would suggest that you put up a sign and start to advertise now. Do the work as you can and I would even think about a cash offer at this point. A cash offer will get you out of it anyway.
I dont think of it as though you made a “big” mistake. Sounds like you did ok but did not consider the expense of the move and set up.
You dont mention the year but, a two bedroom will be kinda hard to sell.
Are you able to do any of the work yourself ?
That could save you a few dollars.
Anyway, mark it up as educational expenses, your learning alot.
Re: Dumb Newbie Mistake - Posted by Casey
Posted by Casey on July 11, 2003 at 12:45:57:
Yup…Education expense. Yeah I can do most of the work myself I believe. I think I will try to do a handyman special and see what happens.