Posted by AL on October 04, 2007 at 07:45:22:
Thanks for the information. It was very helpful. These homes are on my land . I would sale with owner financing. I will make my bid and see what happens.
repos - Posted by AL
Posted by AL on September 28, 2007 at 17:36:05:
I need help from Greg Meade or some of you others that have bought repo homes from Green Tree. I have two lots that have repos on them but I am experenced at buying Land/Home deals and need some help on what to pay for these homes. One is a 2000 16x76.Needs lots of cleaning and painting inside. The other one is a 1998 14x70 that needs lots of work. Any help would be appreciated.
Re: repos - Posted by Paul-GA
Posted by Paul-GA on October 02, 2007 at 17:03:35:
If the homes are out of the Jax’ville office, meaning South GA/North FL the 1998 will go around $7500 and the 2000 will go around $9K-$10K. I’ve purchased about 12 over the last year and thats what I have been paying. The prices are going up as less and less single wides are out there.
Re: repos - Posted by richard seay
Posted by richard seay on October 02, 2007 at 08:30:02:
Where can I find a repo list for homes in texas?
Need more info… - Posted by Greg Meade
Posted by Greg Meade on September 28, 2007 at 19:44:56:
Need make and model (or serial numbers) and rating on quality…1-5. 1 being like new,5 a POS. Where are the homes in FL? Derek in Tampa your Greentree contact?
Greg
352.216.2020
Re: repos - Posted by AL
Posted by AL on October 03, 2007 at 17:54:02:
These homes are in Tenn. Do you think they might be a little cheaper here? Thanks
Re: repos - Posted by Paul-GA
Posted by Paul-GA on October 04, 2007 at 03:08:22:
GreenTrees does not base their home price on market factors. In the Repo division in your market there will be a Supervisor. That Supervisor can do basically what ever they want to. Where as they will typically liquidate bad paper at $.50 on the dollar, if they have been holding it awhile they will go cheaper. I have actually seen them abandon title on a 1998 16x80, which leads me to my next point. These supervisors also make commission off of what they sale the home at, above there minimum. So the more they sale for, the more $ they make. However, they are human just like us. Call the Supervisor and tell him/her you really need these two homes, what will they take. He/she is going to inflate the price some to make a commission, but you are still going to get the home at a steep discount.
To get back to your original question. If those homes were in South GA I would pay up to $10K a piece for either one. After moving and setup and work I could have close to $12K in each one; however, I would put them in my park in Brunswick and rent the 16x80 for $650mth and the 14x70 for $550mth or retail either one for $19K or more(not a lonnie deal, cash sale. If I did a lonnie deal the buyer is looking at payments so I would add another $5K to the sale price)The point being, you have to decide what you are going to do with them and what can I invest and still make the $ I want.
P.S.
If they are much cheaper than the prices I gave let me know. I will drive to TN and start buying there.