Posted by Ken (OR) on November 24, 1999 at 12:39:21:
Sell the homes, keep the lot.
Need input from Mobile Home Gurus on Possible Deal. - Posted by Earl
Posted by Earl on November 24, 1999 at 11:46:11:
I have come across 2 MH lots that I can hopefully purchase for $3500 and $5000 each, with owner financing. I anticipate having about $2OK invested for each mh and lot for a total of $40K combined. I will have to get homes 5 yrs. or newer to place in the MH community and the comps for 3BR 2BA mobile homes and lots in good shape are are around $50K-60K. I have a partner, who has obtained his MH Dealer’s license and should be able to these homes for about 10K-12K each. So, I think we can make about $25K or more from the sell of each MH/Lot package.
What do you folks think about this deal?
Earl
ditto ken - Depreciating dirt, Appreciating Dirt - Posted by Gator
Posted by Gator on November 24, 1999 at 14:39:42:
Keep the lots. You can find buyers that won’t care about owning the lots. If you rent the $3500 lot for just $100 a month you getting 34% return not including appreciation. The dirt inside the trailer will depreciate, the dirt outside will appreciate. Keep the appreciating dirt. Best Wishes.
Gator