Posted by Elton Allen on October 20, 1998 at 08:10:27:
Here is a couple of things that I would suggest. You are on the right track by searching, but remember you are looking for the motivated seller not the motivated buyer? When you purchase these properties you will be looking to re-sale them and do “owner financing” to make a profit. It looks from the few numbers that you have given that there would not be a profit margin at all. If you purchase this mobile home at the current price you will probably hurt yourself rather than improve your situation?
I would wait for the materials that you have ordered, because when Lonnies books arrive they will show you how to purchase MH’s with no money down, what to look for as far as price range, and they will also show you what the “bread and butter” MH’s are. They’ll also show you some very creative stategies as well. It really helps when you know what to look for and how to go about aquiring that “right” MH. The way that the MH business works is based on finding the right property at the right price in the right area, all of which are explained in Lonnies books. I hope that this helps a little.
Disclaimer: This is just one man’s opinion.