Re: 100K for 100 MHs. - Posted by JohnBoy
Posted by JohnBoy on February 11, 2001 at 04:41:27:
What about when you go to inspect each home you get with each one of the tenants and see if they would be interested in owning the home vs. renting it if they could come up with a $1000? For each tenant that would be interested you would be getting that home for FREE since you would be using their money to pay the seller for that home. In the end you end up with a bunch of FREE MH’s and sack full of MH Paper that you would be collecting income on. You could even sell off some of that paper as a portfolio of notes to get the cash to pay for the homes the tenants can’t come up with a $1000 down or want to own them!
If you get enough tenants to buy with a $1000 down you can make this deal happen without using any of your own money or even having to get any financing!!!
You end up with a bunch of notes paying you a nice income stream! Or you could sell off all the paper and settle for a nice payday up front!