What is the lot rent? Condition of the home? What is the park like? Have you talked to the park manager?
Is the Lot Rent current, find from the park manager not the owner. Is the payment current, verify that.
And then What can you sell it for? I would expect to get more that about 2k down up front. What kind of spread can you create. You’ll probably be pushing it at 50 bucks a month. Is it worth it?
I found a mobile home owned by a very flexible seller who just wants to get out from his $366/mo payments on a 1997 3-2 mobile home so that he can buy a house. His payoff is approximately $22k. I am thinking about buying it or agreeing to lease and sub-lease/optioning it, carrying the note myself. Am I leveraging myself too much? I am brand new to this, but I just got back from the convention and am on fire to solve this guys “problem” in a way that could be win/win. All ideas and input would be greatly appreciated. Thank you in advance.