Take the money or spend the money?

[Matt Lane]

I’m in the process of buying a mobile home , $60,000 price getting loan for 25,000 -$30,000.

I’ll  be getting $7000 from mobile home park I’m putting home in. 

My question:

Should I put $7000 toward principle or keep it as part of my down payment for my next purchase ?

[Matt Lane]

Quote from @Rachel H.:

@Matt Lane You may want to wait and see depending on how much work the home needs. When you buy a mobile home in a park, usually there are holding costs such as lot rent and fix-up work and repairs involved while you get the home ready for the market. It's best to have some reserves for these costs as unexpected items do come up. Hope that helps! 

That is solid advice but I am actually buying a new mobile home and having it moved into the mobile home park. It is in a college town and should have no trouble being rented. The mobile home park is giving me $7000 for keeping the mobile home in their lot for at least four years.