Seller Wants Will DEED Me Her House In Exchange For A MH!
Well I have a seller that just wants out of her home. She said at this point all she wants is a MH. She said she wanted to rent, but they all seem to only be selling right now. She quoted 20k for a new one but that she could find some used ones for 10k.
Now I don't know anything about MH's. Do you buy one that's already in a park? Then I assume you still have to pay a monthly fee for parking there?
Or do I buy one and "move it in" to the park? Is the rent higher that way....basically what would be the smartest thing to do here?
Btw, there is a good 50k equity in her home.
It is cheaper to find one in a park. The costs to move one starts at 2 grand. There are plenty to choose from, and usually no shortage. Make sure the "Lot Rent" is up to date before you buy a MH in a park, and that all the water and trash payments are caught up, if not take that amount off of what they are asking because you will be responsible for them when you buy the mobile. You can check on the web, or in the paper for foreclosure's that you can pick up cheaply. If she is a senior citizen you may want to look at 55 and older parks, some of them give them away for 500 bucks just to get a tenant. Sounds like a good deal. congrats
Kyle
find an old mobile home fsbo. They will ask you for $8000 for it offer them $2000-$3000. They will take it because no bank would give a person a loan to buy an old mobile home and the people that want to live in mobile homes dont have that kind of cash. Then sell it to the lady with no money down and payments of $50 month for 30 years. You will end up making another $18,000 off of her.