How I purchased my first mobile home in a park

[Adrian Smude]

This started out with a sign for a vacant lot for sale that use to have a mobile home on it.A lady by the name of Ashley called showing a ton of interest, but we couldn't come to an agreement on price.A few days later she told me she was no longer interested because she was going to sell the mobile home she planned to move onto the lot.Of course I replied asking for more about the mobile home she now needed to sell.We discussed it and I set an appointment for the next morning to see it.Everything was as she explained over the phone.I told I'd have an answer for her within 3 hours because I needed to go to a closing on a property.Before/after my closing I spoke with the park manager and the man she purchased the mobile home from. I called her back to meet at the tag office so I could make the purchase.We both go to the counter where we made the transfer and I paid her.

Now I have this mobile home to rent out.I market it in my typical ways which one being Facebook groups.A nasty comment was made by a lady saying I stole her home from her home.Long story short the Ashley "promised" it to this lady the afternoon I made the purchase. The upset lady expected me to give it to her for the price I paid; I nicely explained this is a business venture for a profit. We talked for awhile and made a deal that worked for both of us.

For some numbers:

Purchase price $5,000 (seller paid for the transfer)

I sold for $9,900

Buyer put $5,500 down and paid for transfer (I paid $80 for a duplicate title because I made the mistake to have it snail mailed)

Buyer has a lien on the title.

Buyer has payments of $137 a month at 10%

BUT the buyer did not want that payment although she could afford it by the math.  She wanted it pay it off in full with her next tax return.

Solution: first payment to be made the following year in march.This solved her problem, made her feel whole because she got her first home, and felt whole from "being ripped off" from the lady that sold to me.

This was a great learning experience for me with a mobile home in a park, and I made all my money back and some upfront, payments or pay off in a year, and made someone very happy to have a home she had been dreaming of.