Dirk, MH experts, how do I-- - Posted by steph in tex

Posted by Mark-NC on February 12, 2000 at 14:05:01:

That sounds like an interesting property. I hope you are in good with your apprasier. I am trying to visulize it with the tong still on it. Just out of curiosity send me a photo.

As far as the convention goes, I am going. My beer tooth has been acting up and it needs to be satisfied.


Dirk, MH experts, how do I-- - Posted by steph in tex

Posted by steph in tex on February 12, 2000 at 09:46:18:

Hey Gang-

I have a flip I’m doing with a house that used to be a mobile. Any experience with this out there?

It was hard to get comps, and I am concerned about the house appraising… it is taxed and insured as a house… is on a perm. foundation, but it does still have the tongue…

I have a buyer- we went under contract this am- I am concerned about the possibility of them not being able to get financed due to the " Used to be a mobile home" thing…

Any input? Stuff I need to be prepared for? Thanks in advance- this is my first “mobile” type deal-- and it’s been smooth so far, but I’d love some wisdom from the pros.

steph in tex

I am switching to the capital “I” due to the overwelming positive response to them…however…“steph in tex” will continue to be lower case as a trade mark…LOL–
Randle- that one was for you! :^)

Re: Dirk, MH experts, how do I-- - Posted by Dirk Roach

Posted by Dirk Roach on February 13, 2000 at 24:01:56:

I have to admit, this is a little beyond me. Just being honest, that said though I do know that out here in my neck of the woods, if a Mobile is on Private land, attached to a foundation, axels and tongue are removed then it’s real estate.
I do know a few Brokers that could financing down on a home in the above scenario.
I would get in touch with Ed Garcia, he’s pretty much a powerhouse when it comes to getting most anything financed.
I do know about cutting tongues off, because I have done that a few times. I simply use a cutting torch. Takes all of about five minutes. Not a big deal at all. I happen to have a set of torches, because I use them occasionally on some of my art, however if you don’t have a set, check around with some of the local farmers, or ranchers. Also you might check with a local MH Mover. They shouldn’t charge you much, because it’s a real easy job.
Anyhow unless you have a need for a set of torches for other stuff I wouldn’t be too hot to run out and pick up a set. I do see torches in my local penny saver all the time that are used. Usually listed for like a hundred bucks or so. However, like I said if you don’t plan on cutting up a lot of big pieces of metal and things, just get someone who has a set and more importantly knows how to use them to run out and slice that sucker off.
Sorry I couldn’t be of more help.

A MH is a MH is a MH… - Posted by Bud Branstetter

Posted by Bud Branstetter on February 12, 2000 at 21:14:19:

No matter what is built around it it is still a MH from the lenders prospective. You may get someone with good enough credit to go to a local small bank to get a loan. The MH note buyers don’t want older MH’s. You may have to use a private investor to get the seller their cash. Do you know the age?

Re: Dirk, MH experts, how do I-- - Posted by Mark-NC

Posted by Mark-NC on February 12, 2000 at 10:20:27:

Hey Steph,
Looks like you got your hands in a little bit of everything.

I have a question…What do you mean, it used to be a mobile? Did they add on to it or something?

My experiance with these and lenders may be different in your area. The problem I have run into is the new mobile home’s are so easy to get into with their easy financing it is hard to deal with the older ones. Unless you make it real easy for them to get in it is hard to find a buyer that wants one or will qualify for financing unless you end up holding the paper with next to nothing down.

You will want to check to see if the title has been surrenderd to the state and see if the mobile is deeded to the property.

The fact that it is on a permanent foundation helps. The fact that the tong is still on it may not be an issue as long as the axel’s are off and it has some type of skirting around it.

The only other problem you may run into is the age of the mobile and the Low LTV’s that are assoiciated with trying to get one financed.( How old is it?)

Not trying to discourage you but this has been my experiance… Maybe one of the pro’s have had better luck with these and can help you out.


Re: Dirk, MH experts, how do I-- - Posted by Rodney (AZ)

Posted by Rodney (AZ) on February 13, 2000 at 21:24:25:

I’ve accomplished the same thing (removing the tongue) with a SawzAll, rented for about $12/day. Took about 15 minutes to effortlessly remove, and required 3 blades. Easy stuff, and cheap. Safer, too, especially if the park is skittish about using a torch to do the job (ours was).


Re: A MH is a MH is a MH… - Posted by steph in tex

Posted by steph in tex on February 12, 2000 at 21:22:43:

Hey Bud,
Their lender told them that as long as the Axcel? is off and the tonge is off, you can even get FHA financing…
it’s looking like we may have to cut off the tounge-
The original MH is about 20yrs old.

I’ll keep you guys posted

steph in tex

OOPs! here’s more info - Posted by steph in tex

Posted by steph in tex on February 12, 2000 at 10:45:55:

I guess I need to give you more info!
The thing is that the original mobile has house built all around it. It has a great room on one side, a bedroom and utility on the other. They had this professionally done, and you can’t even tell that there’s a mobile in there from the street. The thing ain’t going anywhere! It’s on a beautiful lot, and I’ve had tons of interest. We are now under contract for the 2nd time. The first buyer didn’t fly and we didn’t even get past step one. The additions on the house/mobile are about 5 yrs old. I have pics- if you want to take a look email me and I’ll send em to ya for your input.
The new buyer is pre-quall’d and very excited, I’m just nervous about the old mobile that is the original home.
Thanks for the response!
Have you made up your mind about Atlanta? There’s BEER!! I know your week spot- come on- I hope you’re going!

steph in tex