Seller Finance Modular Home

[Melisa Reilly]

Investment Info:

Mobile home wholesale investment in East Stroudsburg.

Purchase price: $110,000

Working on seller financing a modular home. Seems as though it is pretty complex to ensure everything is done legally and correct. Anyone have insight? Would love to hear any suggestions or tips. Thanks!

What made you interested in investing in this type of deal?

I have been very interested with mobile homes and want to focus more on investing in them. Wanting to serve the community by providing safe, clean and beautiful homes that are within budgets.

How did you find this deal and how did you negotiate it?

Found through a pulled list of fsbo. What I have noticed is that I am able to connect with a seller as best I can and that allows me to ask sometimes tricky questions. This lets me negotiate.

How did you finance this deal?

This is a seller finance deal.

How did you add value to the deal?

I am providing a service to seller to seller finance the home as well as arrange a moving company. I also provide my services to a family that wasn’t able to obtain a mortgage from a bank.

What was the outcome?

No outcome just yet

Lessons learned? Challenges?

Lessons learned: even though the community owns the lot this transaction is still treated as a home and land

Challenges: ensuring we stay within the guidelines and laws for the process

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes I did!