Posted by Paul Stryer on January 22, 2004 at 08:07:30:
Hello - I respectfully disagree with the philosophy of don’t move your first deal. I had to move my first 7 deals, because the people owned their own land, or did not like the location of the park where the home was. If I had not done moves which went against Lonnies advice I would still be just starting. Instead I have done 15 deals in 7 months.
Just be smart about it if you do a move with the sale.
First of all use a licensed mover that has good references
Second - if your moving to someones land make sure you get the land as part of the collateral
Third - try and have a buyer before you buy the home yourself and make them pay for the move. All 7 of the homes I moved the cost of the move,setup,permits,inspections where about 1.5K and I always add on another 2K for my time to get everything done and arranged for them. So it adds another 3.5K to their note with you which means you make more money in the term of the deal.
If you do need to do a move when you buy the home, make sure you ask us here before you do so you are armed with enough amio to help you not make a mistake
Would you do this deal - Posted by Ron
Posted by Ron on January 21, 2004 at 20:51:34:
86’ 14x70 3 bed 2 bath $1000 needs to be moved. $2400 moving costs. $500 clean up. I know I can get $10000+ if i finance. The problem is I dont know any mhp managers very well and if I move it their I’m afaird they wont approve my buyer. one park manager I know pretty good but his mhp is in a really low income area. any help thanks
you bet I wouldn’t… - Posted by Greg Meade
Posted by Greg Meade on January 22, 2004 at 18:36:50:
not as you have outlined! If you are new at this,try to do two things, solve a problem for a PM or Owner and make a real buck.
My suggestion is to tie the home up with 500 (less) and an additional 500 when moved (45 days?) Try and find another park with empties and establish rapport with owner" i just happen to have a real clean unit to put on one of your empty spaces…I can sell you the unit for 4k, but you will have to move and set…
Or, the one I really like is " I have an opportunity to pick up a clean home for 1k if you want to split move and cost, we can joint venture a contract sale and each make 1k down and about 200 a month for 4 years
Yes, people do this every day…you have a partner for life nad it really makes an investors life easy having a place to put mustmoves!!Good luck Ron, Greg
Re: Would you do this deal - Posted by Dave Fl.
Posted by Dave Fl. on January 22, 2004 at 06:09:52:
Where are you? I have two empty lots in my park.
Re: Would you do this deal - Posted by Sam Chevel
Posted by Sam Chevel on January 21, 2004 at 21:38:14:
You must be in a bad sellers market. In south Mississippi, on that trailer, front line ready I can get $19,500 all day long and have buyers who wanted it mad at me because I could only select one purchaser. Do yourself a favor and just buy your own lot and move it there and have Your purchaser pay off your mortgage instead of some park owners mortgage.
Re: Would you do this deal - Posted by Tim
Posted by Tim on January 21, 2004 at 20:56:09:
Its been said many times on here, I wouldn’t move your first deal. Solve some problems in parks for PM’s and build rapport first.