to take the summer off, but I just folded. Had a couple of investors from this board offer me a nice, 1/4 acre lot with old POS singlewide (1969 vintage…anyone remember Woodstock?) for 17.5K net. My business partner TJ and I closed yesterday with 1/2 this month, half next month. The reson? Have a customer wanting a L/H in this area of Ocala. Went threu a nasty divorce and has shot credit, but has $7,500 to put down soooo.
A month ago, a busboy at my fav morning coffee shop tipped me on a possible removal of a nice mobile off a horse farm and got me a phone number. Steve, the owner just bought a 480 acre horse farm for 28.7M and there were 3 nice doublewides (90 vintage) on property and wanted them gone for free. No prob!! After paying three thou to my busboy, we got titles and had 4 months to remove homes.
Took my customer out to peek one of the homes and he loved it. 92 Liberty 28 x 52 3 bed/2 bath. We will remove junker and place this home on lot. At this point, I will be in the property 9100 for purchase 5800 for breakdown and reset and about a grand for skirting, steps, etc. I still owe 8750 on the land, so after deducting the 7500 downstroke, i will be in the property for about 17.5 K out of pocket. I will structure a note for 81.5K at 12% payable at $897.38 per month for 20 years. With any luck at all, I will be cashed out of pocket in about 20 months and will have 18 more years of Cool Runnings. Call it greed or whatever, but i just CAN’T pass these up!
I am not posting these results to show this Board how smart I am…I am posting this to show what a lot of you posterrs and bloggers have taught me. The most important tools I have in my bag are contacts. Hairdressers, busboys, waitresses, housewifes, cops, probation officers, fish and game, construction workers, home movers, escorts, have all given me leads on lots and homes i have bought.
About a month ago, I was contacted by someone from the Pensacola area with singlewide FEMA homes for sale. I need 11 now please contact me for homes under 10K each, I will transpo