Posted by Philip on April 03, 2003 at 04:53:47:
That may be the case! I just may be too dumb to know any better! But anyway…yes, I will have to see how things develop.
Philip
Would you buy old mh’s from bail bondsman? - Posted by Philip
Posted by Philip on April 02, 2003 at 17:38:41:
45 minutes from my home in a small town, 3 mh’s set on a large lot.
They are vacant. They are pre-hud. They look pretty rough. Have not had a chance to look inside.
The deed is held by a bail bondsman.
He is asking 6k for the place.
Even some small towns won’t allow new mh’s brought in, if these aren’t habitable…I will have to ask about that.
Would a person be crazy to try to rehab and Lonnie this old of MH’s?
The market for buyers would be smaller than what I deal with normally.
The payments might have to be 20% lower than where I live.
Is it all just math?
What city body determines habitability? Health department?
These were last occupied 6 months ago…then a divorce…then a jailed husband…
The bail bondsman has had 1 offer and it fell through.
Is this nutty?
I will provide more details as they become available.
Philip
Re: Would you buy old mh’s from bail bondsman? - Posted by Eric C
Posted by Eric C on April 03, 2003 at 24:54:15:
Hi -
I think you have enough comments about the MH, the lot, etc. to make your decision.
Then again, you should realize that bail bondsmen often end up owning a great many things – of all kinds. (at one time, the largest holder of second trust deeds in some CA counties was a bail bondsman)
I had one as a “partner” for many years – most of the time, he put up the cash and I found the deals. But occasionally, it was the other way around. Until his death, I always got great deals on cars, boats, and other “toys” as well as some good real estate deals.
I miss him.
Take care,
Eric C
again I say . . . - Posted by Steve-WA
Posted by Steve-WA on April 02, 2003 at 17:56:51:
Philip, ask your city officials!!!
And is the 6K for the LOT too? Probably jump on it, IF there is a possibility of using the lot for a newer MH, or sale to a developer.
short answer, gotta go home from the J.O.B. now, but ASK THESE QUESTIONS OF THE PEOPLE WHO CAN ANSWER THEM - YOUR LOCAL FOLKS!
bangs head against wall
Lot included ,exit strategy without mh’s? - Posted by Philip
Posted by Philip on April 02, 2003 at 20:24:47:
That would be my next question…and outside ideas would apply…not just local admin. issues.
places pad before banging head
Philip
Ibuprofen,sorry, I really needed… - Posted by Philip
Posted by Philip on April 02, 2003 at 20:22:03:
wanted to ask was 2 things:
- Bail bondsman…do they break your legs later?
- Would anyone with experience touch 1973-8 mh’s? at 12’ wide?
There…is that better than all that…local baloney?
I will send ibuprofen in leiu of future dumb questions!
Philip
1.; 2. - Posted by Steve-WA
Posted by Steve-WA on April 03, 2003 at 09:42:56:
-
Bail bondsman…do they break your legs later?
Kinda doubt it. -
Would anyone with experience touch 1973-8 mh’s? at 12’ wide?
Bread & butter, my boy. Prices are lower, of course, but there is a market for these. Preference would be HUD-standard homes - 1976 and newer, though some manufacturers did build to approximate HUD standards even before it was law! But I have sold and carried payments on 1960’s homes - and the money from them looks and smells just the same (well, there was some money I found in one 1970 MH that was pretty stinky - but it spent the same!)
You didn’t answer my Q about the lot - is it 6K for the 3 MHs AND the lot?
Also . . . are the 3 MHs stored there? or are they set up and “livable” where they sit? Must they be moved? etc etc etc . . . more info please.
A bail bondsman is just a regular guy who provides a service for unfortunates, much as we do sometimes . . . would you break someone’s legs? I think your comment was just a joke, but if not, geez, the guy is just a businessman with nonperforming assets - help him out! Maybe talk him down first -
Waiting to hear more of this story . . .
Re: three cheers for your effort - Posted by Joe C. (AR)
Posted by Joe C. (AR) on April 02, 2003 at 23:31:57:
I have been reading your posts for the past few weeks. You really do come up with some off-beat situations. But you wouldn’t be finding all this stuff if you weren’t out there looking. You’ll have to do the research and decide for yourself what you should invest in.
I for one applaude your effort. If I had your initiative, no telling how much better off I’d be. Hang in there, you’ll figure it out.
Joe C. (AR)
Re: 1.; 2. - Posted by Philip
Posted by Philip on April 03, 2003 at 15:24:18:
Joking about bail bondsman. Have an elder in my church that is one.
What you said about money spending the same, and not being leery of older homes…was what I wanted to know. Thanks.
6k is for lot and mobiles. The mobiles are set up, and were lived in until about 6 months ago. I will find out in the next few days about the town’s rules on letting older mobiles stay. I would imagine they can.
As far as the mobiles being livable, that remains to be seen. I have not even been inside. From what I saw through the windows, they are intact. The man holding them says they have solid floors. They are ugly on the outside with ugly metal skirting that is not uniform.
I will defenitly at least ask…“what is the best you can do for me on price?..I really don’t know if these can be lived in…”
It IS a small town of only 2-3k. That will limit buyers. It is a lower income town, so maybe I will get 42 calls if I run an ad.
Philip