Posted by Karl (Oh) on March 20, 2001 at 20:34:16:
Adam,
You need to educate yourself about this business before stepping off the cliff and doing a deal, and possibly making an expensive mistake. For a mere $30 you can buy Deals on Wheels right here. This one book explains the whole business of doing mobile home deals, and answers the questions you’ve asked, plus 1000 other questions you haven’t thought of yet. You won’t be on the same page as everyone else here until you’ve at least read DOW’s.
I am new too looking at mobile homes for investing. I called on one in the paper for $14,000. It is a 1980 completey renovated 3 bedroom with new appliances, siding, roofing, cabinets, furnace, and carpet, and more.
I told the lady I was an invester and I would not pay her full price and I told her that I will look at it and give her my price and she can keep the price around and if she can not sell it, to call me. She wants it moved out of the yard by late May so they can move into their new house.
I don’t know what these things are really worth. Any ideas for a completely gutted and redone mobile 1980 3 bedroom?
I want to make an offer but need help on what is a realistic offer to offer her?
Also, what paper work is involved in making offer? Is it like a house where you fill out a complete purchase agreement with earnest money? Or like buying a used car i.e., just make a verbal offer and hand the check over and get a title in hand???