Immediate help needed on Deal! - Posted by John (KS)


#1

Posted by Susan (TX) on November 05, 1998 at 19:56:02:

It’s nice to try and help people, but your yield here is not really worth the effort. If you buy for $3000, you should sell for at least $6000. Keep looking; they’re out there. Plus, it’s not a good idea to do an end run around the park mgr.


#2

Immediate help needed on Deal! - Posted by John (KS)

Posted by John (KS) on November 05, 1998 at 18:43:46:

I looked at a MH a few months ago and at that time they wanted more than I could afford and make a good profit from ($4750). I gave them my number and told them to call me when they came down on their price and I told them what my plan was to do a Lonnie. Yesterday they called me and said they had a buyer that wanted to move in immediately, but needed financing, and asked me if I wanted to buy it at a discount from the $3750 they were going to sell it to the buyers for. At this time I don’t know how much of a discount. I currently don’t have the money and I have no idea where to get the money. I told them I didn’t have the money and I would see what I could do, but not to count on me getting it. I suggested that they (the sellers) finance the buyer, and they said they were not very interested in doing that, they just wanted out.

Tonight the buyer called me and asked me if I could help them. They have had all the utilities switched and today and they are litterally sitting in the dark. They found out that the park manager will not allow the seller to finance the buyer. I have never delt with this manager and I figure he won’t let me do the financing either.

If I could get the money and do this deal without the park manager knowing, I stand to make around $1100 in 16 months, if I buy it for $3000 and sell it to the buyer for $3750 @12.75 interest at $250/month.

I probably shouldn’t go around the park manager and I may not find the money anyhow. Any suggestions or ideas for me or this buyer that cannot get this home?