Posted by JeffB (MI) on April 06, 2006 at 15:45:51:
Broekn window, hole in floor, need carpet and paint, yet you say the mobile home is “in very good condition”?
You had better be very sure the mover will only charge you $600. The cheapest I have paid is about $3000. Even at $600 though, I would pass on this especially since you state it will be your first deal. Remember, Lonnie recommends not buying movers for your first deal. There is a good reason behind this!
MH 14X55 - Posted by mary
Posted by mary on April 06, 2006 at 08:38:24:
The seller is asking $3500 how much sould I offer since the MH has to be moved. Any help will be appreciated.
Thanks
Mary
Re: MH 14X55 - Posted by Tony Colella
Posted by Tony Colella on April 06, 2006 at 16:27:15:
Mary, I am with JeffB on this. Walk smartly away from this deal. If this is your first deal, DO NOT go astray of what Lonnie teaches. There are reasons his model is what it is … experiences both good and bad. You appear to be too motivated to buy and there is too much work and too little profit for the risks involved with this particular deal.
Start by buying from a truly motivated seller, not an investor who simply wants you to pay for the pleasure of hauling his bad homes away.
If this investor owns so many homes in this one park, time to go to a new park. This one has a big fish already feeding in the small pond.
Review deals on wheels again. Your deal is out there and I promise if you use Lonnie’s system it will be a much better deal with you controlling the risks instead of them controlling you.
Tony
Re: MH 14X55 - Posted by Berno
Posted by Berno on April 06, 2006 at 15:19:40:
Aren’t we missing a few details? Like the year, condition, if the floors are covered in dog poop or maybe in gold? It could be worth $100 or $8000. Asking price means nothing. You determine the value.
Re: MH 14X55 - Posted by osupsycho (OK)
Posted by osupsycho (OK) on April 06, 2006 at 08:49:53:
Well considering it is a small mobile home that has to be moved I would offer to take it off their hands for only $500. Know understand what I am saying… they pay YOU $500 to take the mobile home. But if you go with Lonnies techniques then you shouldn’t have to offer at all…
Just my thoughts,
Jad
Re: MH 14X55 - Posted by mary
Posted by mary on April 07, 2006 at 05:33:08:
Thanks to everyone who posted so quickly I am taking all your advice and passing on this deal.
Re: MH 14X55 Movers and People who lie! - Posted by Bob in ID
Posted by Bob in ID on April 06, 2006 at 22:04:32:
We recently we were going to purchase our 2nd deal and it was a swell remodeled 1979 14 by 73, 3/1bath. Wondefully NEWLY remodeled Perfect, never been lived in. Owner said she has 20k in it and I believe it’s true.
I was able to get the owner to come down to 4k (from 10k) a month earlier. I even had a buyer who saw the photos and put up 2k down payment upon delivery to a nearby park. The home had to be moved from behind the house. The owner claimed a local MH dealer moved it in for 600 dollars as I know it was the rate of the mover. Upon delivering the check for 4k to the owner, I decided to phone the Mover and set up a time so it can be moved. After telling him who’s MH it was, I was told that “NO ONE will move that home for less than 4000K” due to it had to have skids to make the turn on to the street, and it was winter. Bluntly he said you got screwed if you bought it! He said he told the owner previously “he would not move it again”. the owner Lied to make it short.
Thank God for my coach, small miralcles and doing CRE online homework. Hope this helps everyone.
Re: MH 14X55 - Posted by mary
Posted by mary on April 06, 2006 at 15:39:48:
I just took a look at it. It smells good. The bathroom floor has a hold in it. It has a brokern window… It needs carpet and some paint. This would be my first deal. The mover will charge $600. The seller owns half the mobile homes in the park where this one will be moved from. He says he cannot take less than $3000. I offered him $1500. The mobile home is in very good condition. What should I do. I believe I can owner finance it to a family who is single or to an older person. I am thinking of selling it if I buy it for $7000. 1500. down. Any other advice is much welcomed.
Re: MH 14X55 - Posted by mary
Posted by mary on April 06, 2006 at 11:12:11:
Thanks. That is my offer