L/O on mobile home? (Lonnie, Ernest, others…) - Posted by JOHNMAN
Posted by JOHNMAN on March 10, 1999 at 17:06:18:
I received a phone call about an hour ago and this lady has a problem (opportunity for me). They want out of their mobile home. They bought it in Sept 97. It is a 16 X 80 single wide according to them. Here are the numbers:
$372 monthly payments
$150 lot rent
$486 insurance per year
$39,600 approximate loan balance
The question is “Is there money to be made on a lease/option deal”? This is my first mobile home call and I’m not familiar with the ins and outs of dealing with mobiles.
Please let me know what do you folks think. I hope to give her a response by this week.
Thanks a bunch.