I attended the Lonnie seminar in Morganton, NC, earlier this year, and got fired up about doing these deals.
I have now found an excellent opportunity; and wanted to share it with the seminar attendees and others in the network.
There is a mobile home park in a large and growing NC city – traffic count more than 40,000 per day in front of the park. New owners; a well-funded company that owns several MH parks.
There are over 200 spaces. The new company inherited several vacant homes, which they have agreed to sell me in bulk.
I have taken 10 homes. That’s all I can afford now. My business partners picked up a dozen more. We would have taken them all if we had the money. So I thought I would share the opportunity with others in the network. There are a few left. Here is the deal:
Purchase price: $4000 each.
Estimated cost of repairs: $1200 if our licensed contractor does them (of course, this will vary with each home, but $1200 is the average).
After Repair Value: $12,000 average.
Lot rent: $300/month
Excellent on-site management finds renters, collects rents and keeps 10%.
Clear titles (we are buying from the new owners) with no closing costs; just title transfer fee.
Do your own math and you will see this is a very sweet deal; but I only have access to a few more of them.
I want to deal with folks who are serious, motivated and ready to do business today. Because if we can close by Dec. 1, I have negotiated 90 days free lot rent.
I have all the details: Location, photos, traffic count on the highway in front of the park, etc.; but will give them only to serious investors. These homes will be on a first-come, first-serve basis; no cherry-picking.
If you can do your due diligence and wire in funds before Thanksgiving, please contact me.