Subject to deals with Single and Double Wide Mobiles. - Posted by Mark-NC

Posted by Bill K. - FL on January 29, 2000 at 11:34:52:

Sometimes people think it has to be difficult to make money in RE investing. There is also a saying, don’t look a gift horse in the mouth. If you can’t figure out how to make $ on these deals where the owner is truly motivated what are you learning on this site? Are you ready to invest your money in S FL. when you live in Dallas? I hardly think so. I prefer to invest my $ in my own backyard. My point is work the markets where the motivated sellers are instead of trying to find the proverbial needle in a haystack. When a seller is truly motivated you have the latitude to structure a deal that can work for everyone. Meet with these sellers and figure out a way to put the deal together from all the different techniques posted on this site or, if you haven’t already done so, make the commitment and Educate yourself and you will see the possibilites. How many of these sellers have you contacted? Do me a favor and contact just one or two and post the info on this site.

Subject to deals with Single and Double Wide Mobiles. - Posted by Mark-NC

Posted by Mark-NC on January 27, 2000 at 19:54:07:

North carolina has an abundance of single and double wide homes for sale at all times. In fact in some papers they dominate the for sale section. If someone wants to sell one it is very hard because the local dealsers make it so easy to get into a new one.

I know from past experiances that I could probably take many of these properties “subject to” with little to nothing down. I kind of let them go because I didn’t want to deal with that market.

Im not particularly talking Lonnie deals ( homes in parks). These are homes deeded to the property that are mostly newer ones with very little equity.

Am I wrong for passing up this market . Or if I get them am I going to be sorry because I can’t move them. Has anybody played this market and has it worked for them.

Thanks in advance


Re: Sounds good to me. - Posted by Bill K. - FL

Posted by Bill K. - FL on January 28, 2000 at 14:10:55:

I answered a question similar to this a few days ago. Here are my thoughts on your query. As an investor, what kind of market would you rather operate in? I’ll take a buyers market any day of the week like you just described. If these folks are having such a hard time selling you should be able to take advantage of this fact and create a lot of deals. What is everybody on this site harping on. Find the MOTIVATED seller. If they can’t sell but want to, how much more motivated can you get? What would you rather be : one of the few who can creatively solve these peoples problems or the dime a dozen person trying to do the same deals as everyone else? My advise to you is put on your thinking cap and come up with a win/win situation with these homes and you will get where you want to be much quicker and easier than trying to do the same thing as everyone else. Problems create opportunities. Remember this: People would rather OWN than rent. And since you are talking about owning the land, that’s a bonus not a disadvantage. Feel free to e-mail if necessary with the nitty gritty. I might just move up there a do a few myself.

Re: Subject to deals with Single and Double Wide Mobiles. - Posted by BRnBA

Posted by BRnBA on January 28, 2000 at 08:55:22:

Newer M Homes have tremendous mark up and they depreciate like a car. Can you say UPSIDE DOWN? NO deals here!

Re: Subject to deals with Single and Double Wide Mobiles. - Posted by d.henderson

Posted by d.henderson on January 28, 2000 at 07:40:05:

Sorry, I don’t have an answer but I have asked the same question. I have more of this type of people calling me than the ones with houses. I always let them pass because 90% of the time you have to move the MH to another property.
I too feel like I’m missing something. The last one wanted $500.00 and sign the thing over. It was a 97, BUT it had $32K owed against it.
Hope we get an answer,

Wher’s the money??? - Posted by David Alexander

Posted by David Alexander on January 28, 2000 at 21:29:22:

No doubt, how many of these deals do you want, I can supply at least 10 a month in the Dallas area.

David Alexander

‘Subject To’ Mobile Homes - Posted by BRnBA

Posted by BRnBA on January 28, 2000 at 18:36:14:

I run across folks like this all the time, can I just flip them to you?