Conseco repo Good, Bad, Ugly?? - Posted by Dave_in_IN
Posted by Dave_in_IN on April 25, 2000 at 17:33:08:
I got a list of repo?s in my area from a Conseco contact. One of the homes is an 87 Champion 2 BR 2BA. I went by and looked it over. The outside needs a LOT of trash pickup and haul away. Park wants the lawn re-seeded. Went inside and found junk left all over. There was fried chicken on the stove and I swear that it was growing feathers again. Several walls need patching. Smell?well! Good news it looks structurally sound. No soft floor, ceiling looked ok
Conseco guy says that unit was FHA and he can take no less than $2600. Don?t know if that is smoke or not. Park manager says several re-habbers walked away on it. She thinks it should be hauled away.
I have done only two Lonnie deals. One, my best so far, is in this park and was about the same age and size as this one. If I could get this one in as good a shape I could get $8000- $10,000 like my first one.
My questions are: has anyone done one this nasty and had good luck? Is the Conseco guy truthful on not being able to go below $2600? I would have to hire all the necessary work to be done. Should I walk away?