Well since you asked… - Posted by Dr. Criaig Whisler CA
Posted by Dr. Criaig Whisler CA on June 28, 2002 at 14:55:36:
…free is OK if you can’t do any better.
This seems like a questionable deal, even if it is in California.
Often such older mobiles, ESPECIALLY doublwides, can be gotten free because of the high cost of moving and setting them up contrasted with the cost of doing the same for a singlewide.
It still may have some profit for you, especialy if you have some tax sale lots to trade for the moving and setup. The first thing I would do is take a couple of photographs of it and take them around to show to PMs Riverside and San Bernardino Counties to see if they will allow you to set it up in their parks. Most parks don’t want the older (pre 1977) stuff anymore.
A better price would be from free to $500. I think $4,000 would be a mistake.
I don’t reccomend moving double wides until you have done a couple dozen other deals first, then only if you can afford the a loss without it wiping our your investment capital.
This does not fit the Lonnie deal mold because when you get done moving and setting it up you will have $7,000 (plus and rehab costs) into it and it is only a 1972. If it were a 1992 I would jump on it with both feet at the same time.
It does have one EXCELLENT possibility though that I think other people aren’t noticing yet.
That is that since it has 4 bedrooms it could rent for as much a $1,100 per month on Section 8, on a private lot in Riverside County. That is assuming that it is or easily could be made real nice.
Offer $500 on this one and wait and see what happens. If they accept and you change your mind call me, I might be interested because I have a couple dozen private lots that I will be looking for 4-5 bedroom units for later this year.