So i have a 25 year old Nissan for sale. It’s worth about $500, but i am selling it for $2800 and I already have 3 offers in hand. How can i sell a $500 car for $2800 you ask? Because of it’s future potential. If you keep driving it for several years (and yes - it runs just fine) chances are that some one will rear-end you at least twice. At $1400 per repair you will net $2800 and you will still keep the Nissan. As simple as that!
Sounds absurd, right? But this is what i keep running into with many park owners (no offense to anyone).
Just got off the phone with a very nice guy who was justifying selling an older single wide for $20k. Because it already came back to him like 3 or 4 times and he made over 20k on it.
But the problem is not the owner - i would totally sell my Nissan for $2800 if i could. The problem is that all these sellers have buyer with crazy money that are willing to pay this much.
I don’t know what to make of it. Does everyone right now have loads of cash and want to be a real estate investor?