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Updated over 11 years ago,
Determining value of mobile home
Hey all,
Looking at a mobile home in Corona, CA. Owner is asking 20 k. Other homes in park are listed for 29-85k. Thinking about obtaining 60 day option to get all my ducks in a row. My thought is to buy for 17k, sell on installment to an end buyer for 25-27k. Mobile is in good condition. Owners spent over 10k on inside of this 1400 sq. ft double wide. Space rent is about 900 with under $200 in utilities. If installment payment is $1500, I could cashflow about $250. Any insights or suggestions would be appreciated.
Thanks,
Dave