Posted by John (KS) on October 29, 1998 at 16:41:59:
Don’t spend any money fixing it, sell it “as is”. Let some one else do the work. Part of doing Mh deals is being the owner who will finance. If you do get it for $1500 and that is what it is worth, you could easily finance it to someone for $150 per month at 12.75% interest for 24 months. This will end up costing the buyer $3500, but that should not be their concern, because they will be happy paying $150 plus lot rent, which still should be cheaper than anything they are renting. Plus in two years it is theirs.
I have done an option to purchase on a MH. I gave $10 earnest money and he gave me 2 weeks to sell it. I gave $700 and sold it the gave day for $1500. It was a peice of junk, but the buyer needed a place to live and could afford $200 per month payments for 6 months with $300 down.
Good Luck, and get Lonnie’s books if you don’t have them.