here’s how it starts . . . - Posted by Steve-WA
Posted by Steve-WA on March 28, 2006 at 15:55:33:
coupla days ago, scroll down to see for yourself, a guy posts about leads in Tacoma. Rich is a “I Buy Houses” guy, bandit signs and all, and he doesnt want the leads on MHs.
So one he gives me, for a finders fee if (when) it works out, is a 1979, 2/1 singlewide in a family park @ 325/mo.; owner asking $700 (yes, seven hundred dollars)
I call, I go look, I talk to PM . . . ACTUALLY, its a 14/70, 2/2, needs about $500-1000 in work, rent is 385, current, but 756 in back taxes. PM says all is good, oughta sell for 7K-9K, and “those kids are really in a bind - you’ll probably get it for a good price”. This is a new park for me, so i’ll have to cover some rent til sold, I expect - - - and that’s OK. 73 pads, mostly singlewides, and I saw a few more FSBO signs as I cruised thru. This would be a good park to work - distant, but what else have I got to do?? ;-)3
BTW, the PM asked for a set of keys to show the home, and is pretty sure he can get me a buyer - that’s another finder’s fee - dangit!
Called a handyman contact in the area (highly recommended; never used him yet), will get back in touch tonight, after which I will call the seller. . . I am likely proposing they pay April, I pay taxes, they give me the title.
If that works, then I am looking at 1756 into it (not counting the finder’s fee to my buddy Rich!!) , selling for 500-1000 dp, and 200-300/mo. for 3 to 5 years. Bread & Butter.
More to come . . .