Posted by Rick on February 21, 2001 at 09:14:27:
This will never be an “investment” The home will never increase in value. If you watch the posts they are buying\selling the same year trailer for 3K\6K. The question becomes are you willing to live in a 20 year old trailer for another 20 years and spend an additional 50k in interest to have that age home? You are talking about raising a family (1, 2, 3 kids?)through high school in this trailer.
Need Some Honest Advice - Posted by Wes Easterling
Posted by Wes Easterling on February 20, 2001 at 23:33:03:
My wife and I are a young couple, I am 21 and she is 20. We are looking to but our first home. We are expecting a baby in june, and are looking into buying a used trailor on an acre and a half of land. The trailor was built in 1981 and was just recently remolded. It is a 14 by 70 and has the metal siding and roof. It is 2 bed room 2 bath, and is in excellent shape. It has a large deck on the front and back, it has a fenced in back yard with septic tank and a nice size 12 by 12 shop in the back. They have also added a carport to the trailor. My wife and I really like it and it would definatly beat the $400 a month rent that we are paying right now, it is located in Texarkana Arkansas, and it is just out far enough to be country, but it is not more than a 10 minute drive back into the city. We can get the financing on it without a problem and we know we can afford it. They owners are also going to leave us the refrigartor, stove, a new set of washers and dryers that retail for over $1500 and are less than 1 year old. They have quoted us their best price of $28,000 dollars. Our question is would this be worth the investment? IS this really worth what they are asking?
Thanks for your help,
Wes and Judith
Re: Need Some Honest Advice - Posted by Ron_KS
Posted by Ron_KS on February 21, 2001 at 19:25:18:
Education, education, education!!!
Congradulations on the pending birth of your first child.
I believe Tony summed it all up - above all else, buy “Deal’s on Wheel’s”, the future then becomes yours.
Great success ------
Ron_KS
Re: Need Some Honest Advice - Posted by Tony-VA
Posted by Tony-VA on February 21, 2001 at 17:31:43:
Wes, first let me say congrats on the pending birth of your child.
For a young couple, you are showing maturity that far exceeds many of the mid forty year olds that I sell homes to. You should be commended for this as well.
Education is the greatest, “honest advice” I can give you. By this I do not mean a college degree. What I am referring to is real world education that you can teach yourself and apply today to make a better financial life for you and your family.
The deal you mention above has not got some Investors jumping for joy because it is not an investment deal. But that may not be the way you are looking at it.
I am not certain from you post whether or not the land is included in this deal or if it is just the home.
I believe that many of us wish we had begun looking at investment sites like this when we were your age. You have a great opportunity right before you. You could set your new family up financialy so that you may never have to rely upon a JOB to bring in income. This is where the education comes in.
I highly recommend that you order Lonnie’s book “Deals On Wheels”. It can be purchased right here at this site for about $30. Lonnie mails them out himself and does so very quickly.
Even if you decide not to invest in mobile homes, the information contained in this little book will teach you how to negotiate a better deal on any property you buy. It doesn’t take much negotiating to get the seller to drop $30 off their price so the book will pay for itself the first time you buy anything. But you still get to keep the education.
Lonnie will teach you how to inspect the mobile home and what pitfalls to avoid. He will teach you how to compute the time value of money and make money work for you, instead of you working for money. The book goes into great detail about the entire mobile home investment arena but the knowledge can be applied to many facits of life.
The book is easy to read and understand. Lonnie is incredibly skilled at making difficult topics easy to understand.
With this little book, you could change your life and the life of your wife and child. Rather than spending 8 hours a day or more at work, away from your family, Lonnie will show you how to make money work for you so that your buyers work those hours to send you the check. You simply collect the checks. No boss. No layoffs. Just your business.
With the $28,000 you mention above, Lonnie will show you how to buy atleast 6 or 7 mobile homes much like the one you just mentioned. How do I know this? Because I read that little book and did just that.
These homes typically bring in $250 per month in my area. Let’s say you only were able to buy 5 homes. That’s five checks of $250. That is $1,250 per month and you don’t have to leave home to collect the check.
You could live in 1 home for free and let the other 4 homes pay you $1,000 a month.
See the advantage of the real world education I was talking about? Learn to make money work for you Wes instead of you kissing your wife and child goodbye every morning to go out and work for money.
Quite a bargain to learn how to capitalize on such an opportunity for only $30.
Whether you decide to invest or just buy a home to live in. Real world education will serve you well and save you both time and money. Best wishes to you and your family.
Tony-VA
Re: Need Some Honest Advice - Posted by k greene
Posted by k greene on February 21, 2001 at 09:46:36:
If you are following the posts you will learn how to make some good money buying and selling used mobile homes. Mobile homes depreciate just like a car so you are paying a lot of money for housing that you will probably grow out of in a short time. When it comes time to sell you will find your self with a huge debt that you will not be able to get out from under and a mobile home that you will lose money. Try to find someone that is motivated to sell and start from there. Good luck and keep on reading . You found yourself a great site to learn how to make a lot of money. These people practice what they preach.