I did a search for Mobile Homes and nothing came up. I sure hope I did not miss it. Has anyone done any investing with Mobiles? I would enjoy hearing from you.
Yes. I also have a question about mobile homes.
I found a mobile home recently selling for under $5,000. But the space rent is $545.00 a month.
How can you make money on that deal? >Find a renter to cover the costs and maybe have a positive cash flow if you are lucky?
I didn't even know what mobile homes were until i moved to Louisiana or sometime called trailer homes. The town here where i live they have a lot of mobile homes or some called trailer parks.
I would suggest that you find you vacant land with water and sewer and purchase the property. You would then put four, five or even ten mobile homes or trailers in there and let them pay for themselves and put $$ back in your pocket.
It would be a great investment if you do it right. You put everything in one loan and the benefit is far more greater. I can't believe they charge you $545.00 for a space. Here's the space are noramlly from $100-$200, but $545 is outrageous.
The average rent for the mobile home or trailer is $300-$400 and plus the space is roughtly about $400-$500 depending on the area.
Now, here's another senario or what we call thinking a little different. If you paid $5,000 for the mobile home, and you don't want to pay $545 to rent a space, then sell to the property owner for $7,000-$9,000 since he already has a spce. If he charges $545 for space, then mostly like he would charge $700-$800 for rent. He will get his investment back in a year. Good luck and happy investing!
Lloydsap has the right idea. Mobile homes are little cash boxes, if you know what you're doing. Purchase it for well under the $5k, offer $2,500. Then you can resell it for $5k and make a nice little profit. But you're definitely on the right track!
God bless,
__________________
Elena
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."
Mobile Homes have terrible resale value. There is a lot of money in buying a huge lot and starting to put trailers on it. But you have to remember that there's a different type of people who usually inhabit those types parks and you have to be ready to deal with all types of situations.
You can also buy and re-sell mobile homes, I guess. But that's pretty hard to do. They just don't have a lot of value when you try to re-sell them.
It's almost like buying a car. I don't think they appreciate like most real estate. At least not here.
__________________
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
Thank you for speaking up. It is ALWAYS best to hear from someone with experience in an area. I apologize for putting in what was a blanket statement. I don't normally do that. I do believe that in our area of extreme cold and snow that mobile homes don't appreciate or last like a more solid structure, but that definitely might not be true elsewhere.
Thank you again,
Rina
__________________
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
I'm still going to stand by what I said. They do have a terrible resale value. But if you can get them dirt cheap, fix them up and resell them for a profit. But that's great you were able to find those deals! I'm proud of you. But I think if you say "I always make money on flipping mobile homes." you'd be misleading people a little bit.
I already apologized. You can ask any of the regulars here that I'm one of the most easygoing people on the forums. There's no need to be crabby and pick fights. I'm still proud of your deals. and you're welcome to repost them.
Did I miss something here? LOL!
Well, I just wanted to add that I've seen some of the 55+ mobile home parks and they're actually pretty NICE. They have quite a few ammenities like a clubhouse, internet access, heated pool/spa, large T.V.'s in clubhouse, and more... Pretty nice place to retire if you ask me and they're quicker to pay off than say a condo, townhouse or home. So they're not just for Jerry Springer cast members any more... LOL! Just kidding. Tryin to lighten the atmosphere here, boy I can cut it with a knife!
*not even crickets chirpin now*
Continued blessings everyone,
__________________
Elena
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."
Like i've said in my first post, i've never knew what mobile homes were until i moved here. What might work for you might not work for someone else. I was only responding to those that acquired about the info. If it doesn't apply to you, then don't worry about it, and let the individual acquired the information decided for themselves.
This is a positive form to share ideas and help each other out about their investments opportunities. If you feel that mobile homes have no re-sale value, then that's your opinion and i know that as well, but i was merely responding to the question. I live in the south now and there's tons of mobile homes around. What works for someone in the big city may not work for you in a small town in the south.
If someone purchase a mobile home for $1,000 and decided to re-sell it for $5,000, then i think that's a great investment. In fact i would buy ten and re-sell them all. If he/she doesn't want to pay $545.00 for a rent space, then that's personal decision, but i was only providing other alternatives or what Dean called "thinking a little different" Otherwise, if you don't want to contribute anything positive in the forms, then butt out.
We all live in difference part of the country and some may not have the luxury or the means to ivest in real estate that some of you may have. Some may only have $1,000 to invest in mobile homes and buying mobile homes for $1,000 and re-sell for $5,000 then that's a hell of investment. I will do it the heart beat if i find deals like that. Don't hate, but appreciate!
I think mobile homes are a great way to start investing. I started with a mobile home and it made me a good little income for over a couple of years. So I agree, if you don't have good credit and only a little money to start with, mobiles are an excellent choice. I don't know what happened here either, but I also agree with Lloyd on this point; comments in this forum are to share knowledge and rei experiences, not to bash anyone. So let's please keep that the main objective here. If you don't agree with someone please don't knock them for sharing it with us. Let's treat one another with respect and equality, and give everyone the chance to speak freely.
Continued success everyone,
__________________
Elena
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."
I once was an owner of a mobile home in Fla where I live in my early 20's. Good place to live when single making $10 an hr. at that time. Then moved back to Chicago and rented it out. No, appreciation is very little if any, but in Fla they are licensed like a vehicle. Depending on the situation, rented out, they can give you good spending money, or now a days, gas money.
And let's cheer up out there!!!!!!! we are thisclose to a great retirement.
I have looked into mobile homes and feel there is an excellent cashflow opportunity with them. Especially if you buy them cheap and sell them as a lease option. The numbers look great. It should be very easy to generate between $100-$200 per month on each mobile home. I also pay close attention to trends and mobile home sales are trending up significantly! Also, you can buy them with no money down if you create a buyers list first. I always recommend (as does Dean) to find your buyers first. Obviously, buying the park is an even greater opportunity which can generate substantial cashflow. If you live in an area that has single family homes that don't cashflow due to price, become an expert on mobile homes and become financially free.
__________________
You've got to find your obstacles and call them out! Unsheath the sword, and do battle with whatever it is that holds you back!
Exactly, CBR! I merely said it was hard to re-sell a mobile home flat out. But there's obviously an opportunity renting or leasing them out. I think the topic became a little skewed, but I totally agree with what you're saying.
aint that bad at all! If you plan accordingly and have a plan of actions, everything will work out just fine. I'm not saying that mobile homes will turn you into a millionaire, but it's a good place to start for some of us. Thanks everyone for your imput!
I see my original post was edited. I guess if the moderator doesn't like what you share they can edit it, although I didn't break any rules like others I've seen.
1) If you (or anyone else) have a grievance, PM me. Please, do not jump to conclusions and especially do not post diatribe in the public forums.
2) This was a isolated incident I can assure you will not be happening again, so sorry for that.
Wanted to clear that up... case closed, let's get back to mobile homes.
Manufactured homes in Washington are all over the place. The are huge and gorgeous sometimes and can be put up on a site in a couple of days. They also have Hi-line homes that are cheaper and put up faster, kind of between a regular stick built home and a mobile home. Depends on what you can afford or if you want to move it somewhere else someday.
I wish I'd known more about investing when I had mine, that baby would still be bringing me $800 a month income! I only had to pay the taxes and insurance on it. I ended up selling it for $22,000. But I made another $19,200 renting it before I did. So I gotta say mobile homes are a great way to get started!
__________________
Elena
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."
At the beginning of this year, we purchased a used 1979 mobile home for $800 and resold it on contract for $5,500. As of next week, we'll have recovered our investment and made a 50% profit already, and this is only the first six months of the contract!
In April, we purchased another 1979 mobile for $799 and just resold it for $5,500 on a contract. With the down payment and first month's payment, we have already recovered 59% of our investment. In just under three months, we will have recovered our investment and will be making pure profits! Now I think mobile homes are a wonderful way to generate cash flow for investing in other real property. But that's my opinion and may not be shared by others.
Thanks for giving us another chance investn2day. Glad you shared that with us again and what a great return! Wow, I'm impressed!! I thought I made out like a bandit with mine... LOL! I might have to start looking into mobile homes again. I hope you will post more experiences with us, feel free to start your own journal too!
God bless you,
__________________
Elena
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."
I appreciate all your responses concerning Mobile Homes. I had forgotten that up north they are not as plentiful. I live in a rural area of Texas where there are very few rentals. Most of our mobiles are on acreage, at least one. My first encounter was a 2,400' foreclosure on 1 1/2 acres that was leased/optioned before I had closed on the property. They did not follow through with their option to purchase but elected to stay on the property. I clear several hundred in rent monthly and am now looking for more cashflows. You guys are right, the resale is not good, except for the land involved, but they are great cashflow and inexpensive to get into.
So where do you start with rehabbing mobile homes. I have ran across a great oppurtunity but I have not clue where to start. Please give me so direction. Need help really bad...
__________________
Erika, REI
Brownstone Investment Group
405.748.0734
www.facebook.com/Erika.Coleman www.twitter.com/brownstoneREIgr
Job 22:21 Submit to God, and you will have peace; then things will go well for you.
Job 22:28 You will succeed in whatever you choose to do, and light will shine on the road ahead of you.
Deut 28:8 The Lord will guarantee a blessing on everything yo do and will fill your storehouses with grain. The Lord you God will bless you in the land he is giving you.
Hello everyone.New to site..ordered Dean's Book and can't wait to get started with it all. I have tons of questions but not going to bother with any of them right now. Just thought I'd say Hello. Reading through the forums has really been helpful. You guys seem really enthused about what you do and I have the desire to be on that level. Hope to hear from everyone soon..
Welcome to the DG Family. Lots of knownledge on this forum. Have a good time gaining in the REI industry.
__________________
Erika, REI
Brownstone Investment Group
405.748.0734
www.facebook.com/Erika.Coleman www.twitter.com/brownstoneREIgr
Job 22:21 Submit to God, and you will have peace; then things will go well for you.
Job 22:28 You will succeed in whatever you choose to do, and light will shine on the road ahead of you.
Deut 28:8 The Lord will guarantee a blessing on everything yo do and will fill your storehouses with grain. The Lord you God will bless you in the land he is giving you.
This is the first time I am doing anything but reading from Dean's site, although I have been spending the last few weeks about 12-18 hrs a day online looking for and emailing many potential sellers of mobile homes and distressed properties. I have a buyer (my boyfriend) who is looking to move to South Dakota from Massachusetts, horrible credit and $8-9000 in cash for me to spend. My reward for finding a home is a place to live free of charge as I will be moving in with him and a start to my new found investing. So, far, after looking through 100's and 100's of properties, I am looking at 5 mobile homes listed for $2000, $5500, $6,900, $7000 and $8000 and 3 distressed properties FSBO for listed $10,000, $12,000 and $13,000. Trust me, it took me weeks of studying Dean's books and searching to find these. Right now we are staying in a long stay motel for $200 a week and have been here for 2 and a half months. We need to get out because it's digging into credit cards. I am thinking that the best way of going is to try and get 2 properties, one for us to live in and one for us to do something with investment wise. By the way, the lot rents on all properties are under $200 and all of them include water, sewer, lawn care and snow removal. Anyway, I am going to start seeing all these properties starting today and fill out Dean's checklist on each of the properties. After doing all my homework, I will determine what my offer price will be on them. Here are my questions:
How do I know if I calculated my offer price correctly?
Is it wise to negotiate a higher price if the seller rejects my offer?
What 2 types of properties are best for me to purchase - mobile home and a distressed property or 2 mobile homes? I don't think he can afford 2 distressed properties and I have no money myself and my credit leaves much to be desired.
I need to start small and work with little to know money of my own because I am broke right now and am only renting a room in a house in Massachusetts and the environment there is toxic. What I have going for me is a small monthly income no matter where I am of $1100 and very little debt that I am currently paying on (although my total debt within my credit report totals about $35-$36,000-this is what I have to fix in order for my credit to start going up. Most of it is not credit card debt)
So, any advice on what I should do now would be greatly appreciated.
I had a seller recently call me because he and his wife are trying to move out of their mobile home. They are not willing to drop the price below 5,000.00 and my buyer will not purchase for more then 3500.00. Is it safe to just walk away from this deal? I have a headache trying to think of a way to make any money out of this deal.
Offline
Yes. I also have a question about mobile homes.
I found a mobile home recently selling for under $5,000. But the space rent is $545.00 a month.
How can you make money on that deal? >Find a renter to cover the costs and maybe have a positive cash flow if you are lucky?
Michael B
I didn't even know what mobile homes were until i moved to Louisiana or sometime called trailer homes. The town here where i live they have a lot of mobile homes or some called trailer parks.
I would suggest that you find you vacant land with water and sewer and purchase the property. You would then put four, five or even ten mobile homes or trailers in there and let them pay for themselves and put $$ back in your pocket.
It would be a great investment if you do it right. You put everything in one loan and the benefit is far more greater. I can't believe they charge you $545.00 for a space. Here's the space are noramlly from $100-$200, but $545 is outrageous.
The average rent for the mobile home or trailer is $300-$400 and plus the space is roughtly about $400-$500 depending on the area.
Now, here's another senario or what we call thinking a little different. If you paid $5,000 for the mobile home, and you don't want to pay $545 to rent a space, then sell to the property owner for $7,000-$9,000 since he already has a spce. If he charges $545 for space, then mostly like he would charge $700-$800 for rent. He will get his investment back in a year. Good luck and happy investing!
LL
Lloydsap has the right idea. Mobile homes are little cash boxes, if you know what you're doing. Purchase it for well under the $5k, offer $2,500. Then you can resell it for $5k and make a nice little profit. But you're definitely on the right track!
God bless,
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."
try "manufactured homes"
jrgnsn
jrgnsn
Mobile Homes have terrible resale value. There is a lot of money in buying a huge lot and starting to put trailers on it. But you have to remember that there's a different type of people who usually inhabit those types parks and you have to be ready to deal with all types of situations.
You can also buy and re-sell mobile homes, I guess. But that's pretty hard to do. They just don't have a lot of value when you try to re-sell them.
It's almost like buying a car. I don't think they appreciate like most real estate. At least not here.
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
Thank you for speaking up. It is ALWAYS best to hear from someone with experience in an area. I apologize for putting in what was a blanket statement. I don't normally do that. I do believe that in our area of extreme cold and snow that mobile homes don't appreciate or last like a more solid structure, but that definitely might not be true elsewhere.
Thank you again,
Rina
"Obstacles can slow you down, but they can only stop you with your permission." Dean Graziosi (BARM pg 101)
"For I know the plans I have for you," declares the Lord, "plans to prosper you and not to harm you, plans to give you hope and a future." Jeremiah 29:11
For a little about me, welcome to the site, and a few tips for new DG family members, click on this link: http://www.deangraziosi.com/user/3249
I'm still going to stand by what I said. They do have a terrible resale value. But if you can get them dirt cheap, fix them up and resell them for a profit. But that's great you were able to find those deals! I'm proud of you. But I think if you say "I always make money on flipping mobile homes." you'd be misleading people a little bit.
I already apologized. You can ask any of the regulars here that I'm one of the most easygoing people on the forums. There's no need to be crabby and pick fights. I'm still proud of your deals. and you're welcome to repost them.
Thanks.
Did I miss something here? LOL!
Well, I just wanted to add that I've seen some of the 55+ mobile home parks and they're actually pretty NICE. They have quite a few ammenities like a clubhouse, internet access, heated pool/spa, large T.V.'s in clubhouse, and more... Pretty nice place to retire if you ask me and they're quicker to pay off than say a condo, townhouse or home. So they're not just for Jerry Springer cast members any more... LOL! Just kidding. Tryin to lighten the atmosphere here, boy I can cut it with a knife!
*not even crickets chirpin now*
Continued blessings everyone,
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."
Like i've said in my first post, i've never knew what mobile homes were until i moved here. What might work for you might not work for someone else. I was only responding to those that acquired about the info. If it doesn't apply to you, then don't worry about it, and let the individual acquired the information decided for themselves.
This is a positive form to share ideas and help each other out about their investments opportunities. If you feel that mobile homes have no re-sale value, then that's your opinion and i know that as well, but i was merely responding to the question. I live in the south now and there's tons of mobile homes around. What works for someone in the big city may not work for you in a small town in the south.
If someone purchase a mobile home for $1,000 and decided to re-sell it for $5,000, then i think that's a great investment. In fact i would buy ten and re-sell them all. If he/she doesn't want to pay $545.00 for a rent space, then that's personal decision, but i was only providing other alternatives or what Dean called "thinking a little different" Otherwise, if you don't want to contribute anything positive in the forms, then butt out.
We all live in difference part of the country and some may not have the luxury or the means to ivest in real estate that some of you may have. Some may only have $1,000 to invest in mobile homes and buying mobile homes for $1,000 and re-sell for $5,000 then that's a hell of investment. I will do it the heart beat if i find deals like that. Don't hate, but appreciate!
LL
I think mobile homes are a great way to start investing. I started with a mobile home and it made me a good little income for over a couple of years. So I agree, if you don't have good credit and only a little money to start with, mobiles are an excellent choice. I don't know what happened here either, but I also agree with Lloyd on this point; comments in this forum are to share knowledge and rei experiences, not to bash anyone. So let's please keep that the main objective here. If you don't agree with someone please don't knock them for sharing it with us. Let's treat one another with respect and equality, and give everyone the chance to speak freely.
Continued success everyone,
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."
I once was an owner of a mobile home in Fla where I live in my early 20's. Good place to live when single making $10 an hr. at that time. Then moved back to Chicago and rented it out. No, appreciation is very little if any, but in Fla they are licensed like a vehicle. Depending on the situation, rented out, they can give you good spending money, or now a days, gas money.
And let's cheer up out there!!!!!!! we are thisclose to a great retirement.
Bruce
Homes On Course
I have looked into mobile homes and feel there is an excellent cashflow opportunity with them. Especially if you buy them cheap and sell them as a lease option. The numbers look great. It should be very easy to generate between $100-$200 per month on each mobile home. I also pay close attention to trends and mobile home sales are trending up significantly! Also, you can buy them with no money down if you create a buyers list first. I always recommend (as does Dean) to find your buyers first. Obviously, buying the park is an even greater opportunity which can generate substantial cashflow. If you live in an area that has single family homes that don't cashflow due to price, become an expert on mobile homes and become financially free.
You've got to find your obstacles and call them out! Unsheath the sword, and do battle with whatever it is that holds you back!
Exactly, CBR! I merely said it was hard to re-sell a mobile home flat out. But there's obviously an opportunity renting or leasing them out. I think the topic became a little skewed, but I totally agree with what you're saying.
Well said.
aint that bad at all! If you plan accordingly and have a plan of actions, everything will work out just fine. I'm not saying that mobile homes will turn you into a millionaire, but it's a good place to start for some of us. Thanks everyone for your imput!
LL
1) If you (or anyone else) have a grievance, PM me. Please, do not jump to conclusions and especially do not post diatribe in the public forums.
2) This was a isolated incident I can assure you will not be happening again, so sorry for that.
Wanted to clear that up... case closed, let's get back to mobile homes.
Manufactured homes in Washington are all over the place. The are huge and gorgeous sometimes and can be put up on a site in a couple of days. They also have Hi-line homes that are cheaper and put up faster, kind of between a regular stick built home and a mobile home. Depends on what you can afford or if you want to move it somewhere else someday.
jrgnsn
I wish I'd known more about investing when I had mine, that baby would still be bringing me $800 a month income! I only had to pay the taxes and insurance on it. I ended up selling it for $22,000. But I made another $19,200 renting it before I did. So I gotta say mobile homes are a great way to get started!
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."
At the beginning of this year, we purchased a used 1979 mobile home for $800 and resold it on contract for $5,500. As of next week, we'll have recovered our investment and made a 50% profit already, and this is only the first six months of the contract!
In April, we purchased another 1979 mobile for $799 and just resold it for $5,500 on a contract. With the down payment and first month's payment, we have already recovered 59% of our investment. In just under three months, we will have recovered our investment and will be making pure profits! Now I think mobile homes are a wonderful way to generate cash flow for investing in other real property. But that's my opinion and may not be shared by others.
Thanks for giving us another chance investn2day.
Glad you shared that with us again and what a great return! Wow, I'm impressed!! I thought I made out like a bandit with mine... LOL! I might have to start looking into mobile homes again. I hope you will post more experiences with us, feel free to start your own journal too!
God bless you,
Psalms 118:23 "This is the LORD's doing; it is marvelous in our eyes."
I appreciate all your responses concerning Mobile Homes. I had forgotten that up north they are not as plentiful. I live in a rural area of Texas where there are very few rentals. Most of our mobiles are on acreage, at least one. My first encounter was a 2,400' foreclosure on 1 1/2 acres that was leased/optioned before I had closed on the property. They did not follow through with their option to purchase but elected to stay on the property. I clear several hundred in rent monthly and am now looking for more cashflows. You guys are right, the resale is not good, except for the land involved, but they are great cashflow and inexpensive to get into.
Diane
So where do you start with rehabbing mobile homes. I have ran across a great oppurtunity but I have not clue where to start. Please give me so direction. Need help really bad...
Erika, REI
Brownstone Investment Group
405.748.0734
www.facebook.com/Erika.Coleman
www.twitter.com/brownstoneREIgr
Job 22:21 Submit to God, and you will have peace; then things will go well for you.
Job 22:28 You will succeed in whatever you choose to do, and light will shine on the road ahead of you.
Deut 28:8 The Lord will guarantee a blessing on everything yo do and will fill your storehouses with grain. The Lord you God will bless you in the land he is giving you.
Hello everyone.New to site..ordered Dean's Book and can't wait to get started with it all. I have tons of questions but not going to bother with any of them right now. Just thought I'd say Hello. Reading through the forums has really been helpful. You guys seem really enthused about what you do and I have the desire to be on that level. Hope to hear from everyone soon..
Grassroots IN
Live Free and Peaceful
Good Morning Grassroots,
Welcome to the DG Family. Lots of knownledge on this forum. Have a good time gaining in the REI industry.
Erika, REI
Brownstone Investment Group
405.748.0734
www.facebook.com/Erika.Coleman
www.twitter.com/brownstoneREIgr
Job 22:21 Submit to God, and you will have peace; then things will go well for you.
Job 22:28 You will succeed in whatever you choose to do, and light will shine on the road ahead of you.
Deut 28:8 The Lord will guarantee a blessing on everything yo do and will fill your storehouses with grain. The Lord you God will bless you in the land he is giving you.
Hi Guys,
This is the first time I am doing anything but reading from Dean's site, although I have been spending the last few weeks about 12-18 hrs a day online looking for and emailing many potential sellers of mobile homes and distressed properties. I have a buyer (my boyfriend) who is looking to move to South Dakota from Massachusetts, horrible credit and $8-9000 in cash for me to spend. My reward for finding a home is a place to live free of charge as I will be moving in with him and a start to my new found investing. So, far, after looking through 100's and 100's of properties, I am looking at 5 mobile homes listed for $2000, $5500, $6,900, $7000 and $8000 and 3 distressed properties FSBO for listed $10,000, $12,000 and $13,000. Trust me, it took me weeks of studying Dean's books and searching to find these. Right now we are staying in a long stay motel for $200 a week and have been here for 2 and a half months. We need to get out because it's digging into credit cards. I am thinking that the best way of going is to try and get 2 properties, one for us to live in and one for us to do something with investment wise. By the way, the lot rents on all properties are under $200 and all of them include water, sewer, lawn care and snow removal. Anyway, I am going to start seeing all these properties starting today and fill out Dean's checklist on each of the properties. After doing all my homework, I will determine what my offer price will be on them. Here are my questions:
How do I know if I calculated my offer price correctly?
Is it wise to negotiate a higher price if the seller rejects my offer?
What 2 types of properties are best for me to purchase - mobile home and a distressed property or 2 mobile homes? I don't think he can afford 2 distressed properties and I have no money myself and my credit leaves much to be desired.
I need to start small and work with little to know money of my own because I am broke right now and am only renting a room in a house in Massachusetts and the environment there is toxic. What I have going for me is a small monthly income no matter where I am of $1100 and very little debt that I am currently paying on (although my total debt within my credit report totals about $35-$36,000-this is what I have to fix in order for my credit to start going up. Most of it is not credit card debt)
So, any advice on what I should do now would be greatly appreciated.
Thanks,
Fredda
I had a seller recently call me because he and his wife are trying to move out of their mobile home. They are not willing to drop the price below 5,000.00 and my buyer will not purchase for more then 3500.00. Is it safe to just walk away from this deal? I have a headache trying to think of a way to make any money out of this deal.