Doublewide on 1 1/2acre going into foreclosure! Any help would be appreciated.... - Posted by Carey_PA

Posted by David Krulac on April 24, 2000 at 20:24:24:

Carey,
What’s the value of the land only? What’s the value of the double only? What’s the comps for the total package? I don’t know your area, but around central Pa. $85k and $900 a month would be on the high side.
There is the oportunity for a Lonnie sell the home, rent the land deal here. What do you want to do with it? rent, L/O, land contract, flip? and is there enough profit to make this a deal?
hth
David Krulac
www.centralpennlots.com

Doublewide on 1 1/2acre going into foreclosure! Any help would be appreciated… - Posted by Carey_PA

Posted by Carey_PA on April 22, 2000 at 20:36:01:

Hey gang,

A woman called on my ad today telling me she wants to sell her doublewide.

It’s a 3/2ba doublewide, i forgot the year, i’ll get back to ya on that and it’s on 1 1/2 acre.

They said their loan balance is around 81.5k they have payments of $909/month this includes homeowners insurance and taxes.

They are behind around $4,000. The loan is currently with Chase Manhattan. The woman thinks it’s possibly assumable because she was telling me about some paper that she got in the mail from the bank.

Anyway, I’m going to see the place on Tuesday. What can I do, how do I figure out comps on this place to know if it’s a good deal and also, what exactly would I do, I mean in order to get a buyer in there asap.

She said that it needs small repairs, like skirting and the screen doors, etc.

thanks all, let me know what other information you need…

CAREY