Finally, my first purchase!

[John Williams]

I finally snagged a mobile home a couple days ago! The hardest part so far has been finding a decent deal and I think I got one.

1971 single wide

Purchased for $1460.00

Trashed!!!

Lot rent $300 due on the first.

There was only one other MH for sale in the park and it was similar to the one I bought, the lady has it listed for $7K!!

I know it sounds crazy, but 30+ year old homes sell for about $6K-$12K!! around here.

I go to work on it this weekend, I will repair as much as I can with out spending anything and then put together a small budget and replace a couple things in the bathroom and kitchen. Already has newer water heater and furnace.

I have been running ads and already have someone interested!

Any tips for my first investment property are appreciated!

John

[Jon Klaus]

Great!

Will you rent it? How much?

Sell it? How much? Will you carry the note? How much down? Payments will be...?

Will you or your tenant/buyer pay the lot rent?

Have you read Deals on Wheels?

I know this is a bunch of questions, but you should have all the answers.