Re: Is that your final decision? - Posted by Michael from Bham
Posted by Michael from Bham on April 04, 2000 at 14:45:58:
I am working on Deal number one now…purchased a 1988 14x55, 2 BR 1 BA for $3000, total invested $3400 (plus a bunch of driving time to find it). A buyer last weekend stood me up, but buyer number two has offered me $500 now, balance in 6 weeks (total $6500). We’ll see if she shows tonight. If not, a pair of young single mothers (buyer 3) are threatening to buy it for 1000 down, 208 a month for 3 years…I suppose I could live with that…
LESSONS FROM DEAL NUMBER ONE:
I paid a little too much for it, and it’ll take a bit longer to recover my investment than I would like (under deal number 3)…my guideline is recovery in 6 months. will be 10.5 months under scenario 3.
I did not have my crew of cleanup/repair people in place. Ended up doing most work myself, though minor.
I did not place an ad immediately upon purchasing it…thought I might get more response from my flyers…I got nothing from those.
I did not check out the trailer thoroughly …fiberglass tub is broken beneath a large bathmat.