Discovery on how to sell 1969 home - Posted by Debra G._VA

Posted by Debra G._VA on May 22, 2000 at 07:08:55:

I sold it for $3,775 - less than book value, and with 0% interest. I just wanted this home paid off and out of my hands ASAP. The buyer got a good deal, and I got a great yield. The book value for the home alone was close to $4,000, but the added value of washer/dryer, new skirting, and shed would have kicked it up to around $5,000.

Discovery on how to sell 1969 home - Posted by Debra G._VA

Posted by Debra G._VA on May 21, 2000 at 20:31:25:

I bought a 1969 home last Monday, and sold it today (Sunday). Out of the four people that visited the home on Saturday, not one was from my newspaper ads. All were from my large real-estate type signs stuck in the ground - at the park entrance, and in front of the home. The bright yellow signs said: Mobile Home For Sale, Open House (and an arrow).

This home was in very good condition (I did do some work on it), with a fantastic kitchen. People came in to see the home, admired it, and then asked the age. They didn’t seem to care about the age, or the 12 foot width, after they had seen the home. I sold it to a single mom with 2 young kids. She’ll have it paid free and clear in just one year, and I’ll have a 104% yield.

I’m glad that my first deal, with such an old home, went so well. Now, I have a 1983 home in another park to sell. I want to thank everyone for all the information they have shared here on this site. Best wishes to you all!

Re: Discovery on how to sell 1969 home - Posted by Blane (MI)

Posted by Blane (MI) on May 23, 2000 at 11:27:23:

6 days, 104%, I’m impressed! Way to go!!

Blane

Re: Discovery on how to sell 1969 home - Posted by Michelle

Posted by Michelle on May 22, 2000 at 20:53:23:

You go girl!!! Fabulous!!!

Good Job Debra! - Posted by Lisa in Oz

Posted by Lisa in Oz on May 22, 2000 at 18:40:53:

Fun, isn’t it?!

BRAVO!!! - Posted by Dirk Roach

Posted by Dirk Roach on May 22, 2000 at 15:00:40:

Hi Debra,
One of the things I like about my market (S. CA) is that Age, simply is not an issue ever out here. Mainly I guess because it’s like a tomb (weather speaking) and MH’s (Cars) etc. Simply just sit and sit and sit.
That being said though, I have never found the width to be a problem either. I suppose it’s in the sales technique. Myself I can use a 12 wide with a big yard (maybe I’ll throw a pick nick table or a BBQ out there) just as easy as a sell feature than I can a 14 or even 16 foot wides. But that is me.
I think your deal is GREAT 104% Yield!!! Wow! And on an OLD sucker too.
New Investors so often get bogged down with so much unwarranted fear on so many aspects of a basic little Mobile Home deal. I love to see posts like yours. It gives everyone a hardy, needed dose, of: "YES FOLKS, IT CAN BE DONE!"
Oh also an extra standing ovation on holding it for six days.
BRAVO! BRAVO! BRAVO!
Dirk

Re: Discovery on how to sell 1969 home - Posted by Jack-NY

Posted by Jack-NY on May 21, 2000 at 22:55:41:

So tell us the sale price of this home. We have a 1965 2/1 excellant shape here at our park. Purchase price “FREE” just $800 to have the home moved upstate. The only repairs needed are in the back bedroom floor. An older lady had this home and took excellant care of it, carpets, walls, floors, exterior are all in great shape, this is unreal we are in no hurry to sell this home right now.

Good job, keep up the positive work sounds good…

Jack-NY