Just Closed Today! 2/1 MH on a 1/4 acre for $4k.

[Dwight Crocker]

My wife hates MH's but for $4,000 who cares...lol  I put an ad on CL for $285/month  and had 9 phone calls by 2pm.   The MH is an older model and is in fair condition.   The value is really in the land though.  I could give the MH away and just rent the lot for $200 - $250.   For now I'll take the $285 and see how my new tenant works out.

[Bill Neves]

@Dwight Crocker, @Joseph Ball,

Secure a Mortgage Loan Originator MLO to work with. Local REIA probably has someone workable. It may cost you $300-$500 per deal. Add it to the deal as a loan origination fee like a stick built loan. Borrowers pay that on every financed stick built house. Why not mobiles? Then do the Lonnie deals. The interest is an caution. Just build it into the profit and do zero or lower interest.

I made one posting to the local REIA forum and found a good MLO locally. She said "It's 3 pieces of paper. No big deal!"

@Curt Smith Thanks for the car tip. One technique, I used for years on Lease Options was to 'forget a vital piece of paperwork' when taking an application. I'd 'swing by' their current residence, 'since I was in the area anyway' and see how the place looked. If they didn't invite me in, I'd ask for a glass of water or use the restroom. If scary, unfortunately they didn't qualify. Checking their car would save a drive. Thanks!