I read DOW. I tried to research the feasibility of doing LD in my area. I searched on redfin for sold MHs near my area. the cheapest MH is sold for $14000 two weeks ago. 800 sf. 2bd/1ba. the space rent $850. Comparable apts in the area rent for about $1200.
assume someone who is apt renter want to buy a MH. he is comfortable for $1200/mo. that leaves $350 for MH payment (taking out $850 space rent). then Assume I am able to buy a MH with $7000 in cash. sell $14000 taking notes. that seems too low for a $14K note having only $350 monthly payment.
I’ve been scratching my head to see how I could make this work. I searched in the archives for LDs in Northern California. some post saying more expensive areas, you can still make it work, just with both buy and sell numbers higher. others saying it just don’t work.
Maybe some expericed LD guys can share some thoughts.