Michigan Mobil Homes

[Brian Illingworth]

Is there anyone here familiar with Mobil Homes in Michigan. I have a guy that owns 4 homes in the same park and is looking to sell 2 of them. These would be my first two deals and I am struggling on how to set a price point to present an offer to him. My intention is to wholesale them to another investor, which I made very clear to him that this was my intent, he didn't seem to care. The problem I am having is it seems that a majority have sold for $3000 or so and appear to be foreclosures and others have sold in the $40,00 to $60,000 ranges. So as u can see there is a huge gap. Thank you

[Ken Rishel]

Anyone buying HUD Code homes needs to be able to find, read, and understand the data plates in the home, and to be able to cross check the serial number on the frame. Once they have the manufacturer and the model, they need the year of the home and the actual size of the home. Then, with some training, they can subscribe to NADA and be able to establish all the different values that apply to that home.

Knowing the condition of the home, inside and out, is necessary to accurately set the value and that should go without saying.