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Updated almost 7 years ago,
Wholesaling Manufactured Homes
Hi there everyone!
I'm new in the wholesaling industry and just had a few questions I was hoping to get some advice on from everyone here.
I'm currently located in San Diego, CA but I have a seller I've been talking to from Jasper, TX. They own a 3br 2ba manufactured home that they'e selling because they're moving. It's brand new, he bought it in November 2017 but needs to sell it. He says it's a clean title but I'll still be doing my due diligence with that to make sure it is.
From my understanding and what I've seen on some forums on here, manufactured and mobile homes is like buying a used car where the owner normally has the title in their name and can be a quick process to wholesale. Also, you're purchasing just the home itself, not the land itself.
I'm a homeowner myself so I'm aware there are still HOAs that go into monthly expenses when owning one but just wanted to get some advice on how I can wholesale this property? It looks like a good deal on my end, especially since he's already selling for a reduced price. But when I do get it under contract, is it better to assign it over to my end cash buyer or should I double close? What's a common closing method for this type of deal and also out in Texas?
Any advice I would greatly appreciate. Thank you so much!!
-Tristan