Posted by David Alexander on June 13, 2000 at 17:30:47:
First thing you need to find out is if this thing is “financed to the hilt”. Alot of these deals are financed to the max payment and that leaves no room for a spread.
ie. that means if you pocket 2k down or something and maybe make a spread of a 100 bucks, if you get it back you have to pay the rent on the land and the home Loan for a few months then you end up out of pocket before you get your return in 30 years the length of time these are financed nowadays.
Just my thoughts.
P.S. there are always exceptions