All Forum Posts by: Amanda Elsberry

Yes, the manufactured home doesn't really have any value assigned to it. It is being sold "as is" in fact my husband pulled a pressure test on it (he is a plumber and contractor) and it did not pass so it likely has some broken pipes.

I have all the title information search though we are still doing research since there is no one alive who really know much about the property. The man died in 2014 but when I called the electric company to see if there were any electric problems in the past they told me the electricity has been off since 2011. Honestly I do not know how this got back to the previous guy but the man who died had a sort of owner contract or private loan through him, I am afraid I must not understand much about the lending process as I didn't question that. I thought since the other man was the one who put out the money and the man who died was making payments to him that when he died the payments were reverted back to him.

There is a board of attorneys handling the property and part of our contract is that they remove the debt attachments to the property. This means our closing date will not be until summer most likely.

Thank you Nuhan! I will try that... My agent said she wonders if he was unhappy with the money as he still holds the mortgage of the man who died and this man (they man who died) had some very serious irs debts (3mil) with all his properties. Maybe he has a loss since I think the irs comes first. Not sure...

220k to be financed actually.

North Idaho and 240k for the house and 75 acres.

We have been looking at some property for some time. It would be for ourselves to live in. The property is a huge piece of land with a 1990 manufactured home. We also have our own business so bank loans are hard for us because it looks like we don't have much income. Anyway we couldn't seem so get a bank interested in financing (they all kept saying they either would not finance existing manufactured homes or they would not finance any older than 1995, I discussed this with the agent handling the property and he said he discussed this with the man who holds the title (the property is now owned by an estate) and he agreed to carry it if we could put 13 down at 5-6 percent interest. We started the offers and agreed on a price with the estate attorneys at 10k less and 20 down. We were moving forward with inspections and waiting to start the financial process with this guy when all of the sudden he says he won't do it. We haven't even spoken to him yet so it can't be on our account; now I need to find a new financer. How do you guys find private lenders? I have found a couple but they want 12% interest and if that is all we can find I will let it go...

I am looking at a 3000 sqrft house about 20 minutes from town. It is a rural area but the house is on about an acre right off the main highway so I wouldn't say it necessarily has rural appeal. I was wanting a duplex and was wondering if such a location was even worth it. I understand there are a lot of variables but I am just wondering if this sounds like something renters would even want. They are asking 100k for it and it needs some work and has also been approved by the county to add a couple more duplexes in the future. So sorry if this is an annoying question, first investment properties are scary! I feel like I am playing monopoly and looking at Baltic avenue!

wow, thanks for the welcome everyone!  

Hi, just getting started here.  Just beginning here and have a lot to learn before I get rolling.  If there is a level one, I am about three levels below it. :)  Glad to get started, though!  My husband has his own business and I am a SAHM.  We wanted to do some real estate on the side as a backup income and something to pass on to our kids.  Like I said, we have a lot to learn yet.