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Updated over 15 years ago on .

User Stats

2
Posts
0
Votes
David Wilson
  • Real Estate Investor
  • escondido, CA
0
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2
Posts

Preparing for sale

David Wilson
  • Real Estate Investor
  • escondido, CA
Posted

Hi,
I have two mobile homes. One on one acre, the other on 3/4. I purchased at a good price with cash, but due to my ignorance found that these MHs are too old for a potential buyer to get financing. They're both built in 1969 I believe. I had a long term tenant move out of one, and the place is thrashed. It will require 6-8k to make it rent ready. I've found a 1987 for 15k (asking price) in a park and am considering buying that and moving it. Do you think this would be wise in the long run if I want to sell this in the next 2-3 yrs since I'm told that post 1973 MHs are easier to finance for a potential buyer? I'm afraid that disposing of the old one, moving the new one, etc. will open up a can of worms and will eat up my profits and I may be wiser to fix what I have and hold for the long term, offering owner financing if I really want out in the future. Any thoughts are much appreciated.
D