Posted by Chuck (AZ) on July 10, 2001 at 05:01:05:
Here’s how I’d work this deal.
First of all, check with the local zoning office to see what the min. acreage requirement is to support a septic system there. I’d venture to guess it’s probably about 2 acres, which would give you 6 lots… if it’s only 1 acre, so much the better.
Have the land surveyed into the smaller sections. Then sell off a few of these to raise the cash for the mobile you want to put on your piece of it, to cover the expenses of doing so, and of course to pay-off the land. You should be able to get $5/6k an acre, perhaps more depending upon your market.
If you work this right, you would have everything free and clear in short order, and a nice bankroll to boot.
poor credit/need financing help - Posted by Sharee
Posted by Sharee on July 09, 2001 at 21:31:11:
Hi! I have the opportunity to buy 12 acres in a rural community that is growing rapidly, it’s already improved with the exception of a septic system which will cost around 2000.00 I have also located a 1986 doublewide mobile home in pristine condition that the owner needs to sell as it is on a leased lot and he does not want to maintain it any longer. He is asking 12,000.00 for the home which is just the payoff, nothing down but cannot do any creative financing as he is in a financial bind. The land is 36,000.00 and similar properties in the area with same type of homes are selling in the price range of 129,000.00
Any ideas? I apppreciate all your help!! Sharee