Buying Foreclosures, REOs. Short Sales, FSBO, MLS and More

When investing in mobile homes it is important to note that there are two types of mobile home to invest in:

There are the mobile homes on their own land. These properties are considered real property. This mobile home will increase better.

I recently had an offer on a short sale accepted. It was an offer I made in May of this year. At that time I offered 240K on a house that had $375K owed on it. At the time that would have been a top notch deal but now since the acceptance last week, I had comps redone and access to a current appraisal.

I Tried posting this as one article but I was not able to for some reason. So you will get this information in two parts.

Here is an article found on www.manufacturedhousing.org that lists 3 reasons to purchase mobile homes.
Less Expensive

Amenities

Today’s manufactured homes come with many "standard" features that you would find in a site-built home. Many floor plans are available that range from the basic models to more elaborate designs with living and dining rooms with vaulted ceilings, fully-equipped modern kitchens, comfortable bedrooms with walk-in closets, and bathrooms with recessed bathtubs and whirlpools.

Visit the Photo Gallery to view some manufactured home interiors.

You have spent time creating a list of buyers then start looking for houses that fit their criteria then later find that we were a little too slow for the motivated buyers. Keep in contact with them. Do not think that all is lost. Most real estate transaction fall through – the mortgage broker over promises, under delivers, seller backs out or whatever. If this happens you will want to be there to bring them to your properties.

Many time we are creative enough to get people into our properties when the other properties cannot close.

Rank Your Buyers

When you are finding motivated buyers you will find that some are better than others. If you rank the buyers in using their criteria then how quickly / motivated they are you will work with the crème of you buyers pool. Why take time looking for homes for people who are not motivated or cannot close quickly?

When dealing with buyers and you are trying to obtain their motivation you will want to keep in mind one question: Who is most interested in purchasing now?

A buyer may become motivated because of a forced move, new baby, marriage or just a great want to purchase a home. However, if they are not interested in moving now the buyer truly is not motivated. By focusing on buyers that want the now you will move properties much, much faster.