getting costly - Posted by joe cee

Posted by Chuck (AZ) on July 29, 2001 at 17:04:02:

Sounds like it’s time to try “rent to own” (aka lease/option).

getting costly - Posted by joe cee

Posted by joe cee on July 29, 2001 at 13:17:19:

july 29 2001

hi lonnie & friends,
i need help.i purchased a m/h in very good cond.
about 4 months ago.put in appx. $300 in repairs,and
was ready for a nice profit.well in 2 more days it will
be month # 5 i have paid lot rent,which will put me
over the $1700 mark in rent+ the $300 in repairs and
were looking at $2000.i have put ads in local papers,
put out flyers,offered to finance at 0% int.what do i do next,need some help quick. thanks joe cee

Re: getting costly - Posted by Charles K. Clarkson (TX)

Posted by Charles K. Clarkson (TX) on July 30, 2001 at 18:09:09:

I’m not sure how much time you have but perhaps you need a little help finding a buyer.

Check with local mortgage companies, especially the small one-office types. Check with the local realtors also. Tell them you are looking for a buyer that they turned down for a mortgage. Here are buyers who can’t qualify for conventional mortgages. They are just the people you are looking for. A small referal fee to these agents will allow them to make a little cash AND feel like a hero.

Tell the agents you may have more MHs in the future. They will likely call with more customers. Like money in the bank, a list of potential buyers can really boost the self-confidence. Most important, don’t give up. Include the lot rents you paid in your purchase price, don’t lose money because it took a little longer than expected to sell.

Re: getting costly - Posted by SL-PA

Posted by SL-PA on July 30, 2001 at 09:25:24:

Perhaps the market in that mhp isn’t very good. If this is the case, you may want to look for another mhp.

Did you try the for sale ad to test the market before the purchase?