Mobile Homes: Bad News Buyers? - Posted by Rich
Posted by Rich on March 08, 1999 at 14:06:22:
What happens when a trailer that you have sold on conract comes back to you after a default of payments with the inside all torn to pieces? I mean, I can see the validity of what Lonnie says in his various, how-to, “deals on Wheels” type, informational articles. But, it would seem to me, that getting these relatively old and cheap mobiles back in bad condition after selling them via owner financing would be a pretty common occurance.
I’m a newbe here and all this information is great and I’m not suggesting that this would happen all the time–I can see the great investment potential of the process. But doesn’t this happen quite often? I would think that often times such bounced-back trailers would be abused to the extent of the investor not coming out ahead, even though he/she can resale and keep the original down. Is such the case? Isn’t this a serious risk in doing these types of deals?
Thanks for the input…Rich