Posted by Eli on September 15, 2004 at 24:17:22:
If I understand what you are saying this is my interpretation.
Lets say the lot rent is $200. GO to the motivated seller and make an agreement that you will buy the home from him in the next 60 days. Give him like $100 for this right (option consideration). As part of the deal (the sweetner) tell the seller that you will pay the lot rent while you get your money together. That way the seller is not out anything, he has relieved his biggest headache with the home (the lot rent). IT is win win all around, and you have only put out $300.00, that $300 gives you the time to sell this trailer and decide if you really like this business. Even if everything goes wrong, the most you can loose is the $300 so YES this is a strategy for someone who doesnt have a lot of money to get started with, and anyone else for that matter, that wants to minimize risk and cash outlays.