I’m in San Antonio and recently I bought a MH for 50k (had an appraisal done for 95k) Was 3 years old and in pretty decent shape. The people were getting foreclosed on.....
Anyhow long story short. It’s out a ways near the new Toyota factory on an acre of land and it’s been a nightmare to sell. I tried as hard as I could to get it conventionally sold with no luck. I have some people coming in later today to sign papers on a seller financed deal. I don’t really know what else to do.
It sucks to because I have more money than I wanted tied up in the property. I’ll probably just end up putting those people in the property and getting it refied to pull my money out of it and sit on it for a while.
I have bought a few and sold a few MH in and around the SA area. What I normally do is wholesale and retail SF homes. I got "Deals on Wheels" and had to go out and do it.
There have been some good deals and some bad ones. But even the bad ones made me about 50% on my money. Feel free to private message me then we can exchange email.[ Edited by rickpozos on Date 07/25/2007 ]
Hit the "speed bumps" and call every FSBO. Also hand out flyers (if you can get away with it) and put up an add on the bulletin boards of the local laundry and super markets. Hand out your cards, get to know the managers, put a sign on your car
There are pleny of folks having success in Southern CA. As Lonnie says"prices are relative" to the area you live in. The key question is can you keep the payment, along with the lot rent, slighlty better than market rents and still make a nice profit? I agree the prices are much higher in CA. but so are the rents and property prices compared to most of the US.
I’m in San Antonio and recently I bought a MH for 50k (had an appraisal done for 95k) Was 3 years old and in pretty decent shape. The people were getting foreclosed on.....
Anyhow long story short. It’s out a ways near the new Toyota factory on an acre of land and it’s been a nightmare to sell. I tried as hard as I could to get it conventionally sold with no luck. I have some people coming in later today to sign papers on a seller financed deal. I don’t really know what else to do.
It sucks to because I have more money than I wanted tied up in the property. I’ll probably just end up putting those people in the property and getting it refied to pull my money out of it and sit on it for a while.
My experience with MH’s has been less than great.
-Ryan
I have bought a few and sold a few MH in and around the SA area. What I normally do is wholesale and retail SF homes. I got "Deals on Wheels" and had to go out and do it.
There have been some good deals and some bad ones. But even the bad ones made me about 50% on my money. Feel free to private message me then we can exchange email.[ Edited by rickpozos on Date 07/25/2007 ]
I would contact Mitch Stephen at Homes 2 Go. He is the Real Deal and has units he may partner with you on! Feel free to tell him I sent you
I pay 135/mo lot rent for mine here in Charlotte, NC
I sure there is some lenders out there that wouldlove a source of business like this.
Thanks guys.
Hit the "speed bumps" and call every FSBO. Also hand out flyers (if you can get away with it) and put up an add on the bulletin boards of the local laundry and super markets. Hand out your cards, get to know the managers, put a sign on your car
I think you have to be patient and wait for the banks to start feel more pain.
usless you look at rural places where manufactured and mobile home are common.
There are pleny of folks having success in Southern CA. As Lonnie says"prices are relative" to the area you live in. The key question is can you keep the payment, along with the lot rent, slighlty better than market rents and still make a nice profit? I agree the prices are much higher in CA. but so are the rents and property prices compared to most of the US.