Bartering your MH’s on Craigslist - Posted by JeffB (MI)
Posted by JeffB (MI) on June 02, 2007 at 18:28:21:
I sell probably 30% of my homes through Craiglist ads that I run
occasionally. I should post these ads more often, but keep forgetting.
A few weeks ago I had seven homes in inventory and it seemed nothing
was selling. I posted a Craiglist ad in the barter section which had
a list of our mobile homes, and that we’d accept any item of value
towards the purchase price or even payment in full on a mobile home,
depending on value. Gave some examples like boats, cars, trucks,
snowmobiles, tractors, etc.
I sold three homes from that one ad. Most importantly, I got rid of
my “problem” home, a 1990 3/2 d/w that I had completely remodeled, top
to bottom. For some reason, nobody would buy this home, I sat on it
for 3 months and had $8k invested, which is waaay to much. I think
because I was telling everyone I needed minimum $2500 down on the home
(plus park costs of $1000+) most people didn’t have that kind of cash.
A lady wrote me who has three special needs/handicapped children and ended up wanting
to buy the home. She has only the $1000 the park needs, but had three
vehicles she would trade as down payment. I ended up taking two of
the vehicles, giving her FMV for both. A Chevy Caprice and a newer
Chevy Venture minivan. (I need a minivan having two kids now!)
So the deal worked out to be, two Chevy’s down, $352.11 per month for
8 years. The cars have a quick wholesale value of about $5k so I’ll
be left with a maximum of $3k in the deal and will receive $33k in
payments over the next 8 years if it pays out. Unfortunately (for
her) her grandfather just passed away so she’ll be paying off about
50% of the home next week (we’ll see) but in any case this was a great
deal for me.
I have never tried a barter ad like this with Lonnie deals before and
the results have been very encouraging. I’ll gladly accept anything
of value that has a wholesale cash value (since mobile homes do NOT)
if it can make the numbers work. I know many of us have done deals like
this but I’m just surprised at the effectiveness of advertising it
this way on CL. Sometimes I forget to do the things I that I know are effective,
and then wonder why I don’t get good results. This is not a new idea at all,
but for some reason I find myself forgetting the things I already know, only
to end up learning the lesson a second time. Here’s to hoping I am the only
one who does this!