Posted by Tim (Atlanta) on January 29, 2002 at 06:28:40:
Doesn’t look like much of a deal to me on the '83 Commodore. Your concerns are well founded. Two bedrooms are harder to move in general. Also the price is way out of touch with reality. Just give the seller your card and ask him to get back to you when he really wants to sell the home. Just explain that you are an investor. As such you must buy homes very cheaply to make money. Then let him talk. You already understand the value of letting the seller talk. Keep it up.
While you have a good relationship built up with the PM, get in touch with that other lady that wants to sell her home in the park. Make sure you compensate the PM for the lead. If they won’t take cash, give them something else.
I found this mobile home for sale by owner in Pittsburgh, Pa. It’s A 1983 Commodore, 60X14, Two bedrooms, 1bth. I’ve talked to the Park Manager, introduced myself and etc., She stated that the Lot Pay is $250 per month. I called the seller, and asked a few questions and let him do the talking. He explained that there’s a new refrigerator. Also included with the home dishwasher, washer and dryer, new carpet, also a shed in the back also would be included. He said he really wants to get rid of the home. He doesn’t need it anymore. I, of course, asked why are you selling it? His reply, “Well, I lost my job.” I asked, “Are you current on the rent lot?” He said, "Well, --Yeah, with hesitation, then said, well, the owners of the lot was nice enough to drop the rent lot to $215 per month. He is asking $10,500 (yeah right,talking to myself). Other information I got, the lien is with National City Bank for 9,000, but he would take 8,500 for it. Not quite sure on this one. Two bedrooms are harder to get rid of, I’ve read. Also found out through park manager that another lady was selling her mobile home in the park. Is there anyway to work out a deal here???
Thanks for any suggestions