How does this deal sound?
I found 7 acres along a road each acre has a DoubleWide Mobile Home on it occupied.
Lady is wanting out as She is not able to take care of them.
She is asking 150k for all homes and land included.
No more details tomorrow as I am meeting with Her.
She is negotiable!!!
Mark
p.s. Mobiles are 95 and up on their years.
MarkB - when you chat with her find out how much each unit brings in each month. Also ask if see charges x for the homes and y for the land. I'd also try to learn how long the current people have been there and what there terms are. Have they ever paid late?
This is just the beginning. But at least with some numbers you can do a quick PA and see if it worth it to you. See if it cashflows if that is what you are looking for.
Ho...
MarkB, that sounds like one sweet deal. You get 7 acres and 7 moble home for 150K. I can not see how you can go wrong with this deal. Did she advertise or did you just happen to fall into this by door knocking or something. Hope this one works out for you.
Thanx Guys, I feel good about it too, however, tomorrow will tell.
I found this through another deal I am working on.
I am buying a house built in 1994 at a Market Value of 98000 however I am giving 60k for it.
Very beautiful property wish I had some pics for you but even if I had them wouldnt know where to put them.
It is on a lake and I truely beleive I can get 112000 for it based on homes for sale in the imediate area.
The Man needs the money and so I was fortunate to find it.
This will help him at the same time give me a property way below Market Value.
Oh and get this... its completely furnished.... can you believe it...and He is throwing all the furniture in the deal.
Anyway, it was through Him I found the other deal, as it is a friend of His.
Ok, now let me mention one more thing... He also owns a Mobile Home sales lot and offered me any and all of His double wides for 10 to 12k each.
They are all 95 and above I will get a list on them in a few days...when I do I will list them here to get some advice wether or not that is a good price or not.
I am thinking it is based on what I saw..... I also found a man that for 1500.00 per Double Wide will move and set them up within this county whish is where we are wanting to.
So I am starting to see some doors open up in my investing for some potential proffits.
Mark
Ok guys this is the update on this deal.
This deal has grown...
There is 7 acres of land of which there are 3 Single Wides and 3 Double wides one of which has an inground pool.
The pools pumps work, but the pool itself needs a Liner.
I used to build pools thus I know it will take around 2k to fix the pool.
First Double wide has a 2 car garage that was built on. It is also presently empty. The renteres left it in filthy shape, you know the deal where the leave and do not clean leaving trash behind.
However, with some elbow grease, new carpet, and kitchen tile it is a nice home.
Next 2 Homes are single wides, keep in mind each home is on 1 acre of land. The 2 single Wides are not worth keeping they are simply trashed and the amount of repair cost you could place newer mobiles there.
The next single wide is in ok shape, with a little carpet cleaning or replacement it would be rentable.
The next 2 DOuble wides are rented and have been with faithful renters in them.
Ok thats property 1 the next property for sale she had is a Corner lot well I say lot but its actually 5acres.....
On the corner is a Single Wide Older but clean trailer.... next door to that is what was the Fire station at one time.
It consist of an storage building and a 2 door mechanics garage.....
the next property is 5 acres and this is the best of them all as it has 2 houses and 2 double wide mobile homes.
It also has a 2bdr 1 bath apartment.
Ill give more details in a while at the moment I am going to get a bite to eat...so more to follow......
Mark