Fast nickel vs. a slow dime

Real Estate Investing Mobile Homes & Mobile Home Parks
1

I have “Buy sell and finance mobile homes” with my phone number on my truck doors and tailgate. Have for several years. Every once in awhile, I get to thinking that since I have shifted away from LDs for awhile to focus on rental management and debt paydown, I oughta take that off.

Then yesterday . . .

Guy calls from seeing my truck in Lowes parking lot (by FAR the greatest source of these calls): he has a 1980 3/2 DW, upgraded with all vinyl windows, ribbed metal roof, hardi lap siding, sheetrock walls, tile and laminate floors, $1K side-by-side fridge, glass top stove, heat pump - recent HWT failure caused some hallway warping is the only problem. It is on his land; he wants to get rid of it and build a house. He tells me $2500 takes it all -

Dude, this is a $20K note house in a park EASY. BUT I cannot pay for the move, and would have a hard time pooping 2500 right now.

I call my mover, tell him, and sight unseen, he offers me $5K, and if he sells it for over 10K, he will split the overage with me.

Just gotta get the eliminated title re-instated . . .

and I’m keeping the phone number on the truck . . . wait; is that my phone ringing? I did go to Lowe’s today . . .

2

Great story Steve, and nice deal. Sounds more like a fast dime to me.

I’ve had a “sell your home” submission form on my website for some time now. I have always gotten leads here that I felt I could never do anything with, meaning the prices were just out of range for a lonnie deal, or in other cases, they were in parks where I was not working.

Then it occurred to me that these leads are valuable. So now I’m going out to look at the houses with the intent of wholesaling them, either back to the park where they reside, or to another park.

I did my first one of these about a month ago. Bought a nice late 80’s doublewide in great shape, but paid more than I would have to resell it on a note. Turned around and sold it to the park that it was sitting in, for a several thousand dollar profit. They didn’t want me to pull out the home.

The moral to the story is you can only benefit by increasing your exposure. Just when you think something’s useless, like your truck signs and my website form, it can generate a big payday.