I came across a 2001 Fairmont Home, 2 bed 2 bath. It was occupied at one point by a guy who was mentally ill and was “taken away.” His mother had purchasd the home for him for 30,000.00 new, and when he was taken away, he left the home a complete mess.
Long story short, it will probably cost me a few hundred dollars to clean (dumpster,etc.) But the home itself is practically new and aside from the mess, gorgeous. Walls, ceilings, roof, appliances, furnace, Central air, all practically brand new looking. All of the flooring is completely rotted away. In most of the home, the only flooring is the carpet over the beams. Toilets had busted and ran all throughout the home and the home has sat empty for two years.
I have been doing Lonnie Deals for about two years now and I work primarily in nine different parks. Every park owner I have worked with has told me this:
“If you get a 1990 or newer vinyl-sided peaked and shingled roof home, I’ll move it into my park for you for free.”
A few of the park owners have told me that finding a home like this for their park is very difficult, and here in Ohio, they are having trouble finding newer homes cheap to fill empty lots.
My question is to finance or not to finance.
I think replacing the flooring throughout the home will cost me about two grand. All new plumbing, probably 1,000.00. Do you think I can just sell this home as-is to a park owner for like 6,000.00, or should I spend the money, repair it, and Lonnie Deal the home.
Or spend the three or four grand, fix it up, and sell it to a park owner for like 10,000.00. A lot of you are park owners, what’s a fair price for a home of this type?