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Updated over 11 years ago,
Don't know what to do with a cashflowing mobile home
I received a call yesterday off of one of my yellow letters. The seller has a mobile home and lot that he wants $25,000 cash for because that's what he was offered last year. The mobile home is a 1977 and apparently has some problems but the long term renter has agreed to handle all maintenance on it as well as the septic system in exchange for reduced rent. The monthly rental income is $450. With any reasonable financing this is clearly a cashflowing deal but a) I haven't the slightest idea of the value of a mobile home and b) I don't have $25,000. Does anyone have any experience/advice here or would anyone be interested in working this deal for a referral fee? Thanks.