What about this unusual MH Deal? - Posted by John (KS)
Posted by John (KS) on November 25, 1998 at 11:26:00:
Had an interesting possible deal come up. A friend found some land in the country he wants to buy. 15 acres for $30,000. The land has a '84 MH in very good condition on the land. My buddy asked me if I could help him get rid of the MH in Lonnie fashion so he could sell it for a good price and use the payments to pay for his land. I just happen to know of an oversized lot in a nearby small town with a early 50’s MH only 8X35 that a little old lady is trying to sell. I heard she would probably sell it for $2000, land and all. My buddy offered to give me a monthly check in the amount of the difference from what his land payment is and what his MH buyer would pay him. I was thinking, I could buy the lot in the small town, trash the tiny home, move the newer MH onto the lot, collect lot rent and a monthly check from my friend. He would have his empty land to build on, I would have a lot to collect rent on forever, and he would get half of his land paid for by the sale of the MH.
Sound like a good deal?
I still need to work out alot of details, like moving costs, how much the lot will actually cost me, and checking out if the current utils on the lot will work with the new home. Any ideas or tips here?