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.
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
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.
Would like to have the location. If these are close to Dallas-Ft. Worth, I may be able to help.
Thanks,
Phil
The homes are located about 1.5 hours southwest of Dallas near Waco and Corsicana. The city is called Mexia, Texas.
I am interested in the homes. Please contact me off-line. 608-260-8840.
Thanks.
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
How much rent do these tenants pay now
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,
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
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.
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
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.