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Updated over 15 years ago on . Most recent reply
First deal - Mobile Home- Advice appreciated
I'm looking at a mobile sitting on 1.5 acres, list price is 32k.
The land is valued at 19k and has about 4k in improvements (septic, electric, driveway base, partially fenced)
The trailer needs about 4-5 in upgrades- but is in pretty good condition (Model year 2000)
My thoughts: Offer 25k and see what happens...
I think I could just resell it without much of a problem as the county has it valued at 60k and comps on the road can go well above this.
I could rent it out at about $600 per month (no buyer lined up yet)
I could sell it owner finance
I could sell the mobile and lease the land back to them (i dont know how common this model is, and what the numbers would look like if I did it) im thinking something like sell the trailer for 15k and lease the lot for $300 per month (taxes would be about 150 per month)
Break it down for me-- am I even in the ballpark of having a deal?