Posted by Dave(WI) on December 19, 2000 at 21:55:22:
First try friends, family, relatives, co-workers etc. I just finalized my first deal with my mother-in-law!!
Also, try buying a mobile home with option to buy or better yet over time. I just bought back the second mobile home I sold over one year ago. Back then I bought it for $2,000 sold it for $6,000 with $3,000 down and $3,000 financed over 2 years. They buyers paid it off in 6 months and now have new jobs and need to sell. They want $3,000. Here’s how I structured the deal. $500.00 Down, $500.00 once I sell the M.H. (I’ll use my buyer’s down payment of $500.00) and I’ll pay off the remaining $2,000.00 over 1 year interest free at $167.00/month.
Now, I should be able to sell for $8,000.00 (Buyers did alot of work and fixed it up real nice), for $500.00 down and finance the rest at 15%.
If you don’t have the cash, use owner financing.