How Do I Leaseoption My Mobile Home?
I bought a MH for $13500 it is appraised at $17500. It is located in a MH park. The lot rent is $220/month including taxes. I want to sell this MH buy leaseoption. Can someone expain to me how the lease option works? This mobile home would rent for $550/month but in this court I can not rent it out. Park rules.
UpNorth,
You need to forget about the lease option on a MH. Sell it on a note. You hold the note. The rate can be at credit card rates, plus you require a substantial down payment. You work out the term so it is affordable for them, then you sit back and cash the checks as they come in. In this case, it is the best way to sell a MH.
Bruce..
Ok that sounds good. I was thinking too much. Thanks for the advice Bruce.