Existing rentals for sale


#1

I have 45 homes in my park that stay consistently rented. Will sale for average price of $8750 each. These are mostly late 80’s homes in good condition. These homes could easily produce an 18% return as lonnie deals. Onsite manger can assist with conversion of tenants to homeowners and/or collections.


#2

Thanks for posting the opportunity. I would let people know which state? If you/your manager could make this a passive investment by collecting rent, re-renting/selling home, etc.? What is the average term/interest rate for the 45 homes?

Corey


#3

These homes are in a park in Texas. This can be a passive investment. I have an excellent manager with a strong background in apartment rentals. We can arrange to collect rent, show homes, execute new leases and sales contracts.


#4

Would like to have the location. If these are close to Dallas-Ft. Worth, I may be able to help.

Thanks,

Phil


#5

The homes are located about 1.5 hours southwest of Dallas near Waco and Corsicana. The city is called Mexia, Texas.


#6

I am interested in the homes. Please contact me off-line. 608-260-8840.

Thanks.


#7

I am also interested. Please call me at (805 )550-9753 or e-mail at rewens@charter.net. I would like to know your lot rent per month, what kind of a down payment would they have toward the homes. and how long (average) the tenants have been in the homes. Thank you Rick


#8

How much rent do these tenants pay now


#9

I am also interested if you have enough to go around. Pls call me at 818-248-8348 or email at rgunnoe@yahoo.com.

Thanks,


#10

What are estimated wholesale and retail prices for those homes in the area?

How much rent an investor can get, and how much is your lot rent?

Thanks


#11

It depends on the unit. On average the homes rent for $380. The lot rent is $165, that leaves approx. $215 for the investor. I don’t have retail and wholesale price info. If you would like to see an inventory of the homes, send me your email id.


#12

Please send me a list of the inventory. Thanks.

auction_ware@yahoo.com


#13

Rickey,

You can send me info if you have anything left. I’d be interested in doing some Lonnie’s if you have buyers already in place.

Ken

kb96097@sbcglobal.net


#14

unbelievable, the number of people who are responding to buy 20-yr old homes for $9K to get a 12% return. . . 12%!!!

y’all would be miles better off to invest in paper with an existing Lonnie Dealer; shoot, that pays better’n 12%!

or better yet, money partner - be the bank for a stable of Lonnie dealers. One of the best things to come out of the NW MH event last weekend was the doability of a scaled-down “entrepreneur/investor” model for individual homes.

Investor recoups basis first, then 50/50 split with the LDer. And there are a ton of LDers who would jump at the availability of your money.