Am I in Mobile Home HELL? Lonnie, what do I do now? - Posted by R. Smith, Jr.
Posted by R. Smith, Jr. on May 25, 1999 at 20:17:23:
I’ve been lurking around CRE Online for about two weeks now. Last week a took a step of faith and ordered “Deals on Wheels.” For the next several days, I eagerly awaited the arival of the mail carrier each day. Yesterday the book arrived, and I’ve been reading it non-stop since then.
Yesterday after work, I decided to drive through a few mobile home parks on the way home from work. I spotted about 8 “For Sale” signs in the windows, and wrote down the telephone numbers.
This morning I called all of them from my office. After finding out how much these homes are listed for, I don’t know how I’ll be able to do any “Lonnie Deals” in my area. Listen to these prices:
#1 … 14’ x 70’; 2BR/2BA; 1974; $24,900
#2 … 14’ x 70’; 2BR/1BA; 1982; $39,500
#3 … 14’ x 70’; 3BR/1BA; 1971; $16,900
#4 … 14’ x 65’; 2BR/1BA; 1977; $14,000
#5 … 12’ x 65’; 2BR/2BA; 1972; $18,900
I could go on . . .
Now all of these are in the same park, so I looked into a few others. Another park has one that’s a 14’ x 70’, about 12 years old, and they are asking $18,000.
The best prices that I could find was $8500 for a 12’ x 45’ with 2BR/1BA, propane heat and stove, and about 30 years old. Should I give up before getting started? Lonnie describes buying 15 year old mobile homes for $2500. I’ll be lucky to find one for $25,000!
Now I admit that my search hasn’t been exhaustive yet, but I’m definately discouraged. I must admit that the park where I found the 8 “For Sale” signs is a very nice park. I did find a park where I might be able to find some better deals, but to be honest, I wouldn’t even feel safe walking around in it. It’s absolutely disgusting. All of the roads are dirt and you have to drive through huge puddles just to get around. All of the yards are cluttered with overturned wheelbarrels, and broken lawnmowers, etc… Several of the houses had a man with a beer belly standing in his doorway with no shirt on rubbing his gut and surveying his delapitated domain. I’m not making this up. None of the lawns have been cut in a long, long time as I’m sure that the residents are too busy watching Jerry Springer to be bothered.
Do I really have to stoop to this level in order to make a buck? I wouldn’t feel right putting a young family into a park like that either.
What can I do? Any advice or encouragement is appreciated. I’m not giving up yet, but I’m losing heart as these mobile homes are a lot more expensive than the ones that Lonnie describes.