Posted by Dr. Craig Whisler CA on March 30, 2002 at 14:44:12:
…anyway. Under the right circumstances the lack of title might not be a big problem. I guess I have acquired 30-40 this way, nearly all FREE, but don’t hesitate to pay a little if it is really worth it.
You can probaly develop a new title with a simple lein sale. Ask the governmental agency that regulates mobiles homes in your state, how to do this. Then e-mail me privately for a few additional tips.
Richard is right though, this guy isn’t motivated…YET. See my post below on this board titled something like “Let the 'gator have a leisurely meal”. Actually it was an answer to someone else’s post.
If I went for this deal (at $500 or less), I would just try to sell it as a pullout for about $1,500 more than I paid for it. It the numbers won’t work, you shouldn’t either. Its much easier to sell mobiles without titles if they are pull-outs destined for farms or ranches nearby. They are often reinstalled without permits etc., and used for worker housing or storage buildings.
I have written extensively about how to get free pull-outs and sell them right in the park for removal by your buyers. This can be very profitable, all cash, and QUICK. Sorry I don’t know where the posts are burried in the archives.
Don’t give up yet, but don’t do it unless and until you can make money on it.
On deals like this watch out for back space rent. If you plan to develop a new lein sale title and resell it Lonnie style in the park you also need to check to see if there are any back taxes owed on the mobile. This could be why it it being sold without a title. If it is a real slummobile check to see if the park manager will allow it to stay in the park.
Read Richard’s post several times. It is replete with great tips and advice.