Re: Mobile Home Ads- for Jim(NC) - Posted by WadeFL
Posted by WadeFL on December 14, 1998 at 22:21:02:
Saw your posting. I am working on my first mh deal.
Looking at the numbers, if I were you I would do a “I am going to take over the payments” Lease Option, and go the seller financing route. Your yield will be close to infinity (the place to be) as little of your own money would be in the deal.
I would hang on to the property after the mortgage is paid off. Once it is, your rental will be PURE cash flow and your overall yield will be high.
Seller financing is always going to be the best route because you can determine the option consideration amount, monthly spread and final option price.
Use rent credits as an incentive.
Ad should look like
Rent to Own. E-Z Qual
You should get alot of calls. Hope that I have helped you. Mobile homes really interest me. I just got both of Lonnie Schuggs books and I am reading them over again. So much information.