Repair Costs & first deal (newbie again) - Posted by Marc

Posted by Marc on August 16, 2003 at 22:28:04:

Yes, same one and I agree… $5K would be way too much. I was thinking of offering $2K for it and see where that got me… but not being cetrain of the repair costs I didn’t want to have $5K in it with mobile home and repairs and 100 hours only to be able to get a couple thousand back after a few years… dunno… I’m a new guy too… thats why I am here.

Marc

Repair Costs & first deal (newbie again) - Posted by Marc

Posted by Marc on August 14, 2003 at 21:50:40:

After only a few days invested I am close to doing my first deal. I ran into an early 80’s mobile home at a park that needs some minor repairs. New skirting, some flooring (4x4 area) and some plumbing (tub piping leaks), Other than that a good cleaning and some paint should have her ready to go. I’ll get a closer look at it tomorrow. It’s a 14x70 w/ 3x1 and can be had for less than $5k and the current owner will carry the paper short term.

My questions are as follows:

  1. Can anyone point me in the direction of what typical repairs cost?

  2. How do you make your mobile home sell better than the other 20 in the paper that say “Owner will finance”?

Thanks all!

Marc

Re: Repair Costs & first deal (newbie again) - Posted by Tim

Posted by Tim on August 16, 2003 at 20:00:42:

Repair costs are somewhat dependant on location, and if you can or will perform the repairs yourself (or a portion of them)I.E. paying a contractor to do it will cost more then buying the materials and doing it yourself. Where are you located??

Re: Repair Costs & first deal (newbie again) - Posted by Marc

Posted by Marc on August 16, 2003 at 21:49:30:

Thanks for your reply Tim!

I am located in the Kansas City area. As far as the type of works that needs done it is basically a total rehab. On the outside new steps and new skirt tounge removal. The inside is another story. Everthing in the kitchen and bath needs redone from fixtures to cabinets and for saftey sake I had figured most of the floor in the entire 14x70. Then a frsh coat of paint in and out and maybe some wall work inside (old dark paneling) and I’d be done. Thing is I’m not certain how to figure the cost of the work. I’ll do most myself but may call in a plumber or electrician for an hour or two at some point.

Thanks in advance!

Marc

Re: Repair Costs & first deal (newbie again) - Posted by Tim

Posted by Tim on August 17, 2003 at 13:37:26:

Well sounds like a good project but definatly do-able. You can build the steps yourself, they make a 5/4 deck board now that is pretty cost efficient and is already weather treated. Check home depot or a similar store for this. I have bought used but in good condition skirting from PM’s and owners before from homes that have been moved etc…might be something to ask your friendly PM about before plunking down for new. If the floor is halfway decent you can usually go with another layer of subfloor over the exisiting which will save alot of time. (Pull off the floor coverings first and lay wood to wood. Use liquid nails and alot of screws to make it solid. Sometimes carpet can be cleaned and reused, but if it needs replaced checked the remenants at your local store. I have found piece big enough for a mobile that most stick built homes would consider waste. And you can usually get a good deal. For the work you do yourself just figure what you need to make an hour (be reasonable) and this is what you “bill yourself” to have the costs. I actually run a handyman business as well, so my handyan business “bills” me persoanlly for the work I do on mobile homes for tax purposes. I would be surprised if you find an electrician or plumber to come for an hour or two, they aren’t much for doing only the parts you can’t do, they usually want to do the whole deal or not be responsible. Plumbing is easy, and in most jurisdictions you can do your own stuff w/o being licenced etc. Might be worthwhile to buy some books (you can buy alot for what a plumber charges) and learn to do it yourself. You don’t mention what you need for electrical work, but its straightforward as well.

P.S. Mobile homes are the easiest plumbing you’ll ever do…Everything is easily accessable without tearing out walls. Worst I have had to do to get to a pipe in a mobile is take down a piece of paneling.

I am a newbie to this sales business as well, but done the repairs and maintence side for years on mobiles and SFH. Be happy to offer any advice I can.

Re: Repair Costs & first deal (newbie again) - Posted by Dave-WA

Posted by Dave-WA on August 16, 2003 at 22:22:35:

Is this the same trailer you were talking about earlier?

“It’s a 14x70 w/ 3x1 and can be had for less than $5k and the current owner will carry the paper short term.”

If so, anything close to 5K sounds like way to much money to pay for the amount of work you are talking about doing.

Just my VERY rookie 2 cents.

very rookie, but very astute - Posted by Steve-WA

Posted by Steve-WA on August 16, 2003 at 22:55:39:

I concur.

When you can buy 'em for 2 or 3k needing NO work, why pay 2x that, and that again for repairs?

W/ a 5K initial investment, + 2K repairs, it is way out of Lonnie range. You could do better w/ your 7K.

There is a section in MMWMH about this very thing. Comparing the purchase of a MH for more, with purchasing 2 or 3 lower end MHs for the same money.

Re-read it.

Don’t have MMWMH?

Ah.

Buy it.