Posted by Cindy - OR on June 02, 2006 at 14:32:52:
The PM ended up asking for first and last lot rent and a lot damage deposit. The buyer was going to give me 1k down. She ended up giving me $300 cash and I tacked another 1k to the Note, telling her she could “finance it”.
Yes, I saw her credit, it’s more of a no credit situation. She just turned 24 years old.
There is a 50 year old friend and neighbor who co-signed.
The seller’s purpose in moving was to get another bedroom for her nephew and take custody. She just saved a 13 year old boy from foster care. And the buyer just got her 18 mo. old away from his father and grand parents who left a lot of bruises. What’s the yield on that?
You are completely right about keeping business - business. The numbers have to work. I really appreciate your post. I won’t be able to help anyone if my own life is a mess.