Possible deal…moral support needed! (long) - Posted by michelle
Posted by michelle on May 11, 2000 at 22:24:24:
Hey all! I might have a first Lonnie deal brewing. Ad in the paper says must sell, $4,000 obo. Went to look at it, it’s 14 x 70, early 70’s, 2 br/1ba, with stove, fridge, and dishwasher(don’t know if it works, has never been hooked up since she bought the place). Has all new carpet and linoleum, ceilings look fine but are in need of paint (looks like old nicotine stains), kitchen cupboards are okay, not great, but the countertops are pretty icky. The bathroom is not great, but usable. I think it needs a shower kit put in, new faucet, and new toilet seat for sure. All the windows on the east side need new screens and two windows are broken. The “yard” is mostly weeds. The park is not the best in town but there are new owners who seem to be committed to cleaning it up and evicting troublemakers, though only time will tell on that. I asked what her best cash price would be and she said she really didn’t want to go below $3,000. She bought the place for $2,500 a year ago and still has a loan of $2,000. She said repeatedly that she is just sick of it and will take the best offer.
My problem is that I don’t really know what homes actually sell for here. I’ve studied the few ads, but don’t know if people are actually getting the $5-7,000 they are asking for. I do know that 2 br. apartments are demanding $275-400 with utilities extra and that the low end rents are real dumps. Houses are renting for $325-500 for two bedrooms. Lot rent would be $140 with water and garbage included. With these numbers I think I could sell it for less that they would pay for rent for a not-so-nice apartment.
I know you guys out there don’t know my market—but what do you all think?
The second part of this is that my husband thinks I am totally nuts to want to try this. He says if I want to make some money to get a job. After paying daycare, I can pull down a whopping $5-6 per hour (before taxes). Get this argument he tried on me…“Everybody that wants a mobile home already has one…who are you going to sell it to?” Pardon me…so, like, everybody who wants a home already has one, everybody who wants a car, or a coat for that matter already has one?..what’s up with that? Sorry, just have to vent a little. He also says that the people who would want to buy from me would just be scum bags and more trouble that I want to deal with. Anybody that can provide some moral support or suggestions can consider themselves my buddy!
Well, thanks for letting me “air out”!