Posted by Robin (AZ) on September 05, 2001 at 21:01:24:
As I am sure more experience investors than I will also reply, it isn’t the MH you are looking for-- it’s the motivated seller. It is not that the MH is only worth 3K, it’s that the seller is motivated (by whatever circumstances) to SELL for $3K. I firmly believe that, no matter where you are, you can find MH’s for $3k (and even a little less), if you pound the pavement and ride the speedbumps. Lonnie’s books will tell you how…and I’ll save the rest for the investors in your area to advise.
Mobile Homes in our area sell for $10K and up (usually up!). Do the same techniques and ideas work here as well? Because the prices are higher, it’s more of an investment for me, which I don’t necessarily have. How would I go about purchasing individual mobile homes at those prices and turning them to make any sort of a profit? The area is San Diego by the way. Are there mobile homes in this area (in El Cajon or soemthing) that sells for $3Kish? Thanks
Re: Mobile Homes sell higher priced here - Posted by Jacque - WA
Posted by Jacque - WA on September 05, 2001 at 21:37:43:
Hi Dan,
The market is not determined by what the seller is “asking” but rather by what the buyer is willing to pay and the seller is willing to sell for.
I believe I have seen it posted here before that the average home in the San Diego area was around 10K but you have to remember that it all depends on a seller?s motivation ? this is the same clear across the country, no matter what the market. There will always be people whose ?need? to sell far out weighs the ability to ?wait it out?.
To find out how much to pay - the first step is to figure out what you can buy it for and what you can sell it for. Then you will know how much to reasonably ?pay? for that home.
Personally, I find that the Park Managers are very helpful with finding out what things have sold for, the condition, etc?this should be your first line of communication.