First deal almost done - Is it really this easy!?

[Lance H.]

Hey Everyone,

Just got back from going out to see a mobile home earlier. It is a 1975 Skyline that has been completely renovated top to bottom. The asking price was $7900

I actually found this home when a buyer responded to an add I placed on CL. She said she had visited this home a couple weeks ago and would have given the seller a check on the spot if she had the money. After speaking with her for awhile I explained what I do and that I could buy the home and then resell it to her on terms. She was very excited about the idea. I explained that in order for me to make it work there needed to be a spread between what I paid and what I sold it to her for. We agreed that she would pay 10k.

So today I went to see the home. As the buyer told me, it is in great condition. I asked explained to the seller how I am an investor and so I need to be able to make a spread on the purchase and sales price. I asked him with a cash purchase what the best he could do on price. After about 3 mins of silence (very uncomfortable) he said he could take 6900. 7k was really my max, but I said I wasn't sure at that number and told him I needed to talk to the buyer quick and see what she was willing to do.

I talked to the buyer and she came up another 1000 to 11000 total. Then I went back tot he seller and said she came up a little and that I really wanted to make this work for all of us. I said with a signed agreement right now, can he do any better than 6900. After some silence he said 6500. I told him the number I really came here looking for was 6000, but I would meet him in the middle at 6250. He wanted to think over night so I said ok and packed up my things. On the way out the door I turned and said I really don't want to drive back our here (over an hr drive), lets say 6400 and call it a day, and he said ok.

Total profit with interest $6100. Total work, 2 hrs! I love mobile home investing!