what would you do with this?? - Posted by Joe[GA

Real Estate Investing
1

Posted by Michael Morrongiello on August 05, 2008 at 21:35:30:

Joe;
Mobile home financing is hard to come by and this is especially true with OLDER mobile homes (in many cases anything older than a 1984 model year is VERY hard to finance at all.

Singles wide mobile homes are not as desirable as Double wides. Also the nature of the utilities on the lot (municpal water & sewer Vs well & septic) might be considered more valuable as well.

Try running her through a finance company like American General to see if they will touch her. If not you may not have much of an alternative BUT to finance the sale.

Hope you bought the MH right…

Best to your success;
Michael Morrongiello

2

what would you do with this?? - Posted by Joe[GA

Posted by Joe[GA on August 05, 2008 at 17:38:43:

I have a singlewide on.67 of an acre under contract for $28000. the buyer needs financing… she has $8000 to put down, If I took the 8k and took 20 bac on a note. how much am I looking at to sell that note? how much discount? or I can run the loan for 10 yrs at 10% interest …I would make about 6K on my investment but over 10 yrs… and probably take it back a few times to go again… just want some ideas.