mobilehome trade - Posted by Barbara

Real Estate Investing
#1

Posted by David Alexander on July 30, 2001 at 02:25:43:

depends on the MH… go the the mobile board.

But to start you need to know if the Mh needs to be moved or can it stay where it’s at…

You can make more money financing the deal on the MH…

What can of shape is the Mh in. How many bedrooms/bathrooms, what size, what year & model, are the taxes caught up, lot rent or land payment current, can you work with the park manager if it’s in a park.

You might be able to flip the home for cash to another investor or wait it out foir an all cash offer but easier to sell with financing.

If your in the Dallas area I might be interested, looking for a MH to buy soon.

David Alexander

#2

mobilehome trade - Posted by Barbara

Posted by Barbara on July 29, 2001 at 20:52:27:

Here’s the deal. I have a home for sale I bought on a three year L/C . A buyer wants the home with a downpayment of $2000.00 which he would have to sell his mobile home to get. He is willing to sell it at a loss to do so. He claims the home could bring $4500-5000 because of shape and updates. He offered to trade his free and clear mobile home for downpayment on my home - if he is correct, I could probably sell it for 4500-5000, use 2000 toward his downpayment, pocket the rest and he has my house, I have $3000 in my pocket and he can make the monthly payments on a 2 year L/C. Idon’t know about his job situation, but he says the $550.00 a month for my house is not an issue. He admits his credit is bad. Should I pick up the mobile home, resell it for more than the two, let them have the house and hope he can clean up his credit in time to cash out the house before I have to? I am a new investor and know that I am probably not thinking of all the ins and outs of this deal. Any suggestions? Thanks

#3

Re: mobilehome trade - Posted by Karl (Oh)

Posted by Karl (Oh) on July 30, 2001 at 03:04:07:

In addition to David?s comments. The general problem with the mobile home market is that most buyers don?t have cash. They usually need some kind of financing. Voila! The Lonnie Deal. If you?re interested in quickly cashing out your $2k from this home (and its really worth $5k on the market), you might find a mobile home investor in your area who will buy the trailer from you. Where is it located?

Karl Kleiner