All Forum Posts by: Carrie Herring

Chris Seveney yes a reverse may work for the seller. 

Rachel H.

I plan to put another newer mobile or possibly build so perfect advice to check with zoning. Thanks

I saw the following post locally in NE Georgia, where 1/2 raw lots go from 15 to 50k. Lady posting is the true owner of a 1969 mobile home 2 bd 1 bath, 684 square super close, not on, Lake Lanier. I defended the lady from much criticism, stating her math was off, but it was a creative offer, and a counteroffer could be a win win. It has now been suggested that I should accompany this lady to the looney bin. Am I that far off? Would anyone here be interested in such an offer? 

Here's the post minus her contact info and exact address:

I'm telling mine pretty rough shape mobile homes I feel about my dress this would be worth almost 200,000 not too long from now so good because I need to live in it for 15 more years until I die whichever comes first I think 35 in cash and you can take it over when I die or 15 years first or I'll accept 10,000 cash down and a few hundred a month until you ready to take it over at that time of my death or whatever then you would be giving that payment to my children until the contractor satisfied serious requires only please  or you can email me let me know if you want to come look at it whatever money I get at the beginning and their household it's going to go into fixing the place up by the time I die I hope it's quite nice extremely life actually before the viral to be able to actually move into it themselves it'd be a hold of my place by the time I can do any more to it hopefully waterwood drive Gainesville Georgia 30506 I'm ready to do it ASAP

My first reply:

Cute area, actually owned by poster, and almost a half-acre with the small 684-foot trailer. Her math is off but it's a valid option. Counteroffers would probably be accepted. An opportunity for the lower credit score folks. Good for Lisa being creative!

Second reply:

You may be right about the lower credit buyer. Still, I think it could be an opportunity for the right investor and the seller. Counteroffer could be something like 10k up front and 200 a month for 5 years would give you a buildable lot with water and electric for 22,000. This would not be an uncommon deal.

Thanks in advance for any input!

@Jerry W.You articulated for me. My first goal is to buy a house near my mom who is out of state, so cash and credit may be a little tight for a while. Also I am an unseasoned investor. The vaca company I was hoping to use seems on point, with a great reputation, and only charges 15%. As stated I do have quite a bit of time, so I'm looking for options. 

I think what I will probably end up doing is the cash out refi, if possible, hold it myself, and start with a manager. From there I'll see if I want to manage one or both of the properties on my own. I'm glad I posted. I've picked up a few ideas and leads already. Thanks to everyone for the great feedback!

I have an older house with approx. 100k equity. as is value around 150k. It needs repairs and I would like to upscale it to be a vacation rental rather than a yearly. The repairs would not necessarily need to be done all at once but it would need a new kitchen, a front door, and several windows replaced. There is no rush but I would like to structure some kind of deal with the next year or two. I would like to retain primary ownership in the property. I'm thinking, I would like to sell 1/3 ownership for 50k. The two of us would then rent it through a reputable experienced vaca agent.  Does this sound somewhat reasonable? Any suggestions, thoughts, would be greatly appreciated. Thanks!