It works!!! But I need help-- Dilema - Posted by littleguru

Posted by Bryan-SactoCA on February 28, 2003 at 22:17:58:

when the husband discovers the boyfriend. And hope it isn’t in the MH.

It works!!! But I need help-- Dilema - Posted by littleguru

Posted by littleguru on February 25, 2003 at 14:57:47:

It really works i went saturday to look at a home that was empty for like 8 mths. 2bed 1 bath almost new looking inside. All the water and heat have been off. I met with the sellers boyfriend( it was already stated this was a bad move, because of negotiating power). She was asking 8500 i asked the lowest she could take the husband said she owes her mom 6500 she’ll probally take that. 2000 dollar drop.

I don’t have a customer base built up yet by placing ads like i probally should have.

I left the mobile on saturday and told the boyfriend to have her call me if she could do better she called today!!
She left a message for me to call her back

My dilema---- I believe i could get at least 8,000 for it but again i don’t know. I’m leaving for three weeks to florida on saturday. I don’t want to lose the deal. But if i were to buy it would all have to be done by friday. if i wait i’m scared i will lose it. If i buy, i will own it for almost a month unable to show it to any one.

What should i do as far as purchase price, or should i wait ,what should i say when i call her? help plese thankyou guys for all your help its all so useful.

Re: It works!!! But I need help-- Dilema - Posted by Phil Pelletier

Posted by Phil Pelletier on February 26, 2003 at 02:18:21:

Totally agree with all those who advised holding on this deal. If you can’t AT LEAST double your money when selling the home, don’t buy it. There are exceptions (huge down payment, trading one home for another, etc.) but for your first deal, look for one where the seller is truly motivated to sell. Sounds like these folks are expecting to actually get $6500 for a 2/1. Not likely in this market. Maybe for a 1990, but anything older should sell for no more than about $3,000 cash. That way, when you sell it for $8,000 on a contract (happens everyday in this business), you will make some real money. Buying for $6500 and selling for $8,000 is a sure way to the looney bin, unless it is a cash deal in the first month you own the place, which is unlikely. Go to Florida. Get some sun. Let them stew. That home ain’t going no where, no how. Even if some long lost brother from East Butlick does come in and buy it, there are other deals out there involving more motivated sellers. Don’t do what I (and probably many others) did and pay too much for your first deal. There is a better deal out there. Just go find it. if this one lowers his price, then it may morph into the “better deal” you are looking for.

Reign in your horses - Posted by Dr. B

Posted by Dr. B on February 25, 2003 at 19:50:57:

I agree with Chuck. Let them hang onto it another 3 weeks. It will motivate them more. Use your trip to FL as YOUR higher power. “Well, I’m going to Florida right now, I’ll get in touch with you when I get back and see if there’s anything we can do.”

Don’t get excited about a $2000 drop. If the asking price was originally $3000, that would be different. As Chuck says, if you can’t see doubling or tripling your money, look for one where you can. Lonnie says you can’t lose money NOT buying a MH.


Re: It works!!! But I need help-- Dilema - Posted by Chuck-NY

Posted by Chuck-NY on February 25, 2003 at 18:27:32:

The water & heat have been turned off…ask yourself what don’t I know about the water & heat?

Do you know for a fact that if you bought the MH for $6500 that you could at least double your investment including any unforseen fixup needed to sell the home? If you can’t double your investment then my answer to this deal would be PASS. Keep this in mind…you will not lose any $$ if you pass on this AND there are more and better deals out there waiting for you to find them. Don’t let the excitement of your first deal cloud your thinking.

gotta admire the seller - Posted by Anne_ND

Posted by Anne_ND on February 25, 2003 at 17:34:38:

She’s got both her boyfriend and her husband helping her sell this thing.


Re: It works!!! But I need help-- Dilema - Posted by pete

Posted by pete on February 25, 2003 at 16:43:58:

I would really try and build a customer base before jumping into that. you don’t want to end up with a home that may not sell.