Posted by Grego on March 15, 1999 at 15:58:26:
I have been reading everything on this board for the past 8-10 months or so. My only “success” so far is a “Lonnie deal” about 3 months ago. I need to do more deals because my job is now in jeopardy.
I found a Greentree repo over the weekend ('97 14 X 70 3/2 ) in nice condition in a nice park. The assessed value is about $30,000 according to the county. Greentree wants $25,000.
I thought that I would try and tie this thing up and flip it or perhaps sell on an installment basis. Flipping seems to make more sense but I have my doubts about whether I could come up with a cash buyer on a MH in a park.
Can someone help me with an offer? I thought I would offer $15,000 cash, or something along those lines and give myself 60 days to close with some weasel clause like “contingent on buyer’s partner approval”. Does this sound like a doable deal or should I shy away? How negotiable is Greentree anyway?