Posted by Joe C. on October 04, 2001 at 01:18:52:
Diana,
You’ll have to decide if the numbers work for you. What you may have missed is that the financing for the property may require the MH’s as addional security for the note (if you are financing). If that is the case, you won’t be able to sell the MH’s until the lien holder releases them (this may cost you). Just make sure they are not tied into the note.
Joe C.
is this worth pursuing? - Posted by diana
Posted by diana on October 03, 2001 at 08:57:27:
I am a relatively new invester who has only purchased rental properties. Can’t say that I like being a landlord.
I bought both books on m/h and would like to learn more.
My realtor sent me a listing on a 6 space m/h park which includes 6 mobiles on it. Asking price is 43,000 (had been on the market for 6 months with another realtor)Seller is anxious. All six are rented out for $300. a month. Cash flow is there, but I don’t want to be a landlord. Can I buy the park and M/h and then put all the trailers up for sale? Am I not seeing something here?
Thanks,
Diana
Re: is this worth pursuing? - Posted by Ronald * Starr
Posted by Ronald * Starr on October 04, 2001 at 19:57:11:
Diana---------------
Joe gives you the main thing to look at. There is a how to do it article on due dilligence by Ray Alcorn that may help you. You might want to do searches on this forum for other tips on buying mobile home parks.
Good InvestingRon Starr