I’m new to mobile home investing and need help evaluating a deal. I have a motivated seller who needs to sell before the 1st of next month.
He got this on a trade and has been paying $550 / mo park rent for two months and wants to dump it before having to make a 3rd payment. He wants to get $1,000 to cover his two payments. Here are the facts:
Size: 2bd 1 /ba
Yr Blt: 1974
Condition: Move-in ready. One one of the two a/c units serviced. Has an addition. All appliances (w/d, stove, dishwshr), No Fridge
Lot Rent: $555/mo
Community: Senior (55+), but they’ll sell / rent to 35+, plenty of amenities
Comps: 2-3 Other Units for sale at the $5k price point.
Rents in the area: $750 / mo (according to owner)
How would I structure / market this for a quick exit and few thousand in profit? I’m thinking about trying to negotiate him down to $550, paying the $555 lot rent on the 1st (total $1155) and trying to sell it quick for maybe $4,000 before the next lot rent is due.
I’m going by there to take a look at it this evening. Any help would be greatly appreciated!!
Post Edited (09-20-11 20:47)