All Forum Posts by: James Homes

Seth,

Hope your weekend was enjoyable.

Yes, I would greatly appreciate reading you ebook. I will send over my email via pm.

I would like to thank you for taking the time out of your day to help me.

Happy holidays to you and your family!

PART 2

If they have title and I only have the contract saying they owe me money then is there not a chance I would get screwed over and something that would take years in court to fight?

If I had the title in my name still then I have leverage. Sorry I am confused on all that

Aside from that what is a good down payment to ask for. I can't see someone paying me 1000$ a month plus there lot rent and utilities. If I take a low down payment and low monthly payment I would be collecting money for 2 years or so.

Would this be to much. 15k down remaining owed 8k at 5% interest total 8400$. 12 payments of 700$. This way they can survive to as they still have lot rent to pay and utilities.

I do see alot of the homes the park sells they of 1500$ a month for rent to buy. So maybe my numbers are to low?

Thanks Seth,

Appreciate the explanation and I think this is the route I am going to take. Seems much easier now.

I do have a few questions for you as this would be my first time offering owners financing. The money is not a problem but I still would like a sizeable down payment and potentially the rest with that same year.

Would the contract have to be drawn up by a lawyer or notorized? Or is it simply my terms on a paper signed by both parties and witness.

When there is a buyer they first must make an application with the park (Background check, etc) once they approve them they can buy the home. After it is bought I go to the dmv and transfer the title to them. Then they must go to the park show that they now own the place to take our name out of the system to start sending the lot rent in there name. If I am offering owners financing do I sign the title over to them? Thats technically saying they own the place and it's the only way to get them in the system. PART 2 will follow

Just want to thank you all for all your help and suggestions. Happy Holidays!

Yes very over powering and we should be moved to our new house mid Jan so we can take new pics and change colors.

Jon, that is old posts never updated by the realtor site and the parks site. Probably a year id say lol. Many times I had to hide my dogs lol but the rules have been changed now.

They allow all size dogs except 5 breads are banned (Pitts, Sheapards,etc)

Also were allowed to rent 3 months a year but even at that everyone rents longer or they rent rooms out.

If any of you would like to see photos here are some. I know the kitchen is way over personalized. When I am done renovating the new house I will get to removing the leopord wall paper and painting it a neutral color. Got to keep the wife first lol.

If can give me fedback it would be appreciated.

http://demmamobilehomes.com/countryfs1.html

Hey Jon,

Yes you are correct that it is somewhat over personalized with my wifes taste so we probably only get 8% of buyers that it somewhat appeals to.

No smell of dogs they are trained and house is always clean. When buyers come we bring the 2 dogs to our new house and clean again.

I am looking for a PM feature and will send you a link to pictures if you would not mind taking a quick look

Hey Seth,

What would the best way to go about seller financing?

A down payment and a monthy payment that includes the monthly lot rent? So I pay the lot rent for them and the remaining balance goes to what they owe on the house.

Or down payment and monthly payment not including lot rent?

The thing that turns me off with seller financing (but I could be wrong) is I don't want to have to chase people for money. We are also not always in Florida we spend a few months in Bahamas and Canada or we are in other areas of FL and it seems that it might turn into a headache trying to collect payments.

If I then had to evict someone for non payment it also seems likea big hassle but like I said I could be wrong.

We were also considering renting it we just had to pass on a couple that offered 1500$ a month for jan through march as we don't want to have a renter there incase someone comes to buy

Yes the price is in line with the others. Actually the park even put in new homes and are selling them for 59,990$ with a few of them already sold.

In the park the homes for sale between 10 to 20k are either old single wides or small double wides that are a basic mobile home with panel walls and carpet floors.

It is also not my first I am selling I have been buying vaction homes for about 15 years. The last one we had was nothing compared to this one and we sold it in 2 days for 25k cash.

The only reason this one is over the top with renovations is because my wife and I planned it to be our final retirement place so I built what she wanted however things change and a good deal on a house closer to the beach came up.

I have not spoke to those buyers yet I have been keeping my eye out when I walk the dogs but I think they only move here in Jan. I know the kitchen turns some people off as its alot of leopord and lion design. Wifes German and they like that stuff lol but its only wallpaper which i tell them

PART 2

Even the damn guest bathroom has granite with high end toilet.

Also the living abd bedrooms are fitted with hurricane impact windows. The home has central air but we also have 3 individual ac units in the home as its easier to run 110 on generators should the power go out during a hurricane.

We have had it listed for a few months now pretty much on every classified site on the net. Yes we receive inquiries pretty much on a daily basis and had a few showings, low ball offers but nothing solid.

We lowered the asking price to 23K and monthly lot rent is 589$.

We are dumb found because a few days ago a couple came to look at a our home, loved it then proceeded to go down the street and buy a mobile home for 3000$ less then our asking price and that home had moldy carpets with a rotten floor due to water damage and walls were panel.

Technically we are not in a rush to sell as we bought a new house that I am almost done renovating. Should be moved in by mid Jan but at same time we still want to sell.