Re: Help!!, maybe my first deal. - Posted by Carey_PA
Posted by Carey_PA on October 29, 2000 at 13:42:37:
First of all, calm down! You’re doing just fine, just calm down and you WILL get your first deal accomplished.
I’m assuming you already spoke with the park manager yourself about you buying this particular home, right?
I hope so, if not do so immediately. My advice is going to be based on the assumption that you’ve already talked to the park manager yourself about the home and you buying it.
So, now your wife already got the price down to $4,800. Go do the squirrel dog thing, make sure you take special notice to all the PROBLEMS that the home has…and you know give your wife “the look” about these problems, vice versa. (I’ve had someone tell me that their home was in great shape,and well it was in really good condition, but trust me I found things wrong that they didn’t mention)
And hey what if you don’t find nothing else wrong, well that’s ok too. Ask the woman again, what is the best all cash price you can give me IF we settle tomorrow? And she’ll say $4,800. BE QUIET, don’t say a word. Just look at her, then look at your wife, and then ask the woman, Is that really the best you can do?
BE QUIET again and let her anwer you. IF the answer is still $4,800, then remind her that you are a cash buyer and you will settle tomorrow therefore relieving her from her problem immediately!
If she still says $4,800 then you can do 1 of 2 things:
- Say I’m sorry ma’am but that’s a little more than I’m willing to pay, ESPECIALLY since I’m willing to give you all cash tomorrow and walk away. Leave her your name and number and tell her to call you if she changes her mind. (She’ll call you, I guarantee but you can always call her back to check on her as well, keep looking at her ad in the paper too)
or 2) you can give her the $4,800 for the home. Now, I think that personally is a little too much BUT if you’re already got a buyer lined up and you know that you can get a decent amount of money for the home, then I say go for it. But hey, if you’re going to sell the home for $6K or something like that, don’t spend $4.8k on the home, got it? Hopefully, you will be able to get a reasonable downpayment too, to put a dent into that $4.8k you put out.
Bobby, there is no need to get all excited, you DO NOT have to take this deal IF you think that $4,800 is too much for the home and you don’t think you can get a good price for it. You have to look and see what other homes in your area are selling for, mostly the bigger mobile home places will be selling homes like that for a whole lot of money and you can sell it cheaper than they would and still make an exceptional profit. IF you buy for $4.8K, sell for at least $9.6K, at least. And remember to say OWNER will finance in your ad! Hey, even if you buy the home for $2k, sell it for $9.6k
Just an idea on how much I spent on mobile homes in my area: 1)$2,000 2)$3,000 3)$4,250 (dont’ ask why I paid so much, I’m still mad about it lol) 4) Free and I’m working on another one and it will be 5) Free.
So there you have it, I kinda made a personal pact with myself never to spend more than $4,500 on a mobile home and of course I certainly don’t try to pay that much at all.
My first rule of thumb for me personally as far as how much to offer someone is I take what they are asking for ($5,200) and I cut it in half. Then I go from there. That is the number I have in my head though, I don’t know if that’s the right way or the wrong way to do it, but that’s just what I do…
Ok Bobby, go get yourself a deal…I hope some of my rambling was worth while…