Advice Please!

10,000 for 94 oakwood mobile home on a lot....I dont have to move it. But I could. Very little work to be done. Cleaning ect...What is the best and quickest way to make money on this deal? PS. this guy wants cash...or is this not such a good deal?

Comments(4)

  • Bigbudman7th July, 2003

    What is the fee for the lot?
    Are you looking to rent it?
    Can you rent in the park its located in?
    What are those home going for now?
    10K cash will be tied up for the entire time u own it?
    Lots of questions

  • TommyK7th July, 2003

    170 per mo. FMV for it is about 19000...But I have heard the saying its only as much as U can get. I think I want to sell it. Not sure I can rent it where its at.

  • Bigbudman7th July, 2003

    As soon as you buy it its costing you money. If the payoff max is 19K and you really can get that(Why wouldnt he?) I think having a rental backup plan is a must. Check with the park it in now, see what the rules are. Know your target well prior to pulling the trigger. Is there a demand for these units? Talk to the manager at the park, ask him what he thinks of the value and sales in the area. Knowledge is free sometimes, and can pay heavily. Good luck and keep me posted.
    Bud

  • TommyK7th July, 2003

    Because he wants quick money and his first house payment is coming up....I will check w/ park mgr tomorrow. Thanks
    TommyK

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