Posted by Theo (VA) on February 18, 2002 at 20:52:44:
You need to consider the cost of moving and setup (up to 2 grand in some cases) and locating a mobile home park that will approve you to rent a lot as well as the cost of the lot rent itself. You may ballpark at about 3 grand out-of-pocket before all is said and done. Perhaps not this much but it best to over estimate sometimes instead of under estimating. Or if you find a buyer with a place to put it…you may broker the deal and get something from the middleman spot. My ten cents worth.
OK, I’m going to plead ignorance from the outset–I’m trying to get my single family home investing up and running and haven’t even studied mobile homes. However, I got a call today on one that seems like it might be something that fits along the lines of the articles on this site. Any direction is appreciated.
The seller has an 18-year-old Fleetwood 16 x 80 in good condition. Needs carpet. She only wants it moved off her land for $2500.
So… I thought the price was good, but I don’t know anything about moving them or where to put them. Should I throw this one to another local investor or take a shot? Or pass? To a trained ear, does this sound like a deal you would do?
Re: Should I bite on this one? - Posted by ScottS(NC)
Posted by ScottS(NC) on February 19, 2002 at 10:00:48:
Steve,
I can buy 1984 homes that can stay from motivated sellers for around $3500. I can buy 1984 homes that need to be moved for about $1000. Now finding a place to put older homes is tough. But if I could and the cost of delivery and setup was less than than $2000 I might do it here. In other words if the cost of the home and setup and delivery is all less than you can buy a pre-set home for then think about doing it. Usually this is not the case! Remember to find a spot and get it ok’ed for an older trailer before anything else. Don’t do this at all unless you have done several regular deals first. HTH Take Care ScottS(NC)