Posted by Robert McNeely on April 23, 1999 at 07:00:53:
My first Lonnie deal was on a one bed room MH. However I have never had any one ask for, or had a customer that was looking for a one BR home. I would suggest you avoid them, unless the deal is too good to pass up. My first one was purchased for $500 and sold for $4500, $500 down $100 mo. for 48 Months. Total coat after fixup about $2100. This was two years ago in Feb, Those $100 checks have never been late. I posted a success story at that time , “How I pruchased A Mobile Home for $500” May still be posted?
As for pricing people don’t fuss about price! If you give them the terms they can’t get anywhere form a bank, total price is not that importaint. Monthly payments are the key. We do fix the homes up to an acceptable level. This may mean new carpet, etc. Don’t go overbaoard! In Ohio we are getting $6K to $8K for early 70’s models. Around $13,900 for low to mid 80’s. I started a friend, in my town into Lonnie deals about a year ago, he has now done about 10 deals, at about $1K to $2K higher than I had been getting, I have been Uping my prices a little over time. Just try one, and see. Watch about creating too much competition for your self, One other person doing these deals near you can be both a source of leads and inspriation.