All Forum Posts by: John Barbieri

@Sam Parkins

Thank you very much for your response and input. The stats on the buyer pool percentages are extremely helpful as well as what you are willing to pay for one of that age. Very cool also that you are from VA. I actually travel through Charlottesville area once or twice a month so very familier with your area as well. A question if I may, If you were unable to check the AC/Heating unit as well as hot water heater, under any circumstance, would you still attempt to do this sale or would you walk? Also usually if not the 3 BR 2 Bath it has a slower than average sell time. (This one is a 2 BR 1 1/2 Bath) What would the 'normal' sell time be for the 3 BR 2 Bath? I do really want to get my feet wet and just do it, with the help and advice from those like yourself that have the experience, make a little, learn a little and move on to the next one!

@John Fedro

Again, Thanks for your response! When getting background on buyer, how will I get record of any past evictions? Would I rely on references only and stated past addresses? Although there are quite a lot of empty trailer lots, there seems to be no other ones for sale at this time and there is a brand new home that has recently been added. And yes the grass is pretty green!

Thanks,

John

Thanks so much Joel and John. I really appreciate the advice and wisdom. Below are pictures of the home. Really needs painting outside, trimming shrubs, inside floors and paint. The park is mostly just run down. There are plenty of empty lots in the park too. I'm currently trying to figure out why that is. I found a post from the owner from a couple years ago asking for investors to purchase mobile homes and put them in his park. I'm not sure how much to put into this. Most 2 BR/ 1 1/2 BA MH's are renting for $550 per month in this area, lot rent is $280 and again I'm looking to get it for hopefully $1500 (or less). School district is fantastic and home is only a mile from schools. This is a 1979 MH in good condition. Water and power are turned off so we couldn't test the central heating a/c unit, water pressure etc. Newer hot water heater in it as well. Nice outbuilding on property and decent side yard with picnic table and grill. Obviously we want to make money off this deal...if this is really a deal.

I'm assuming we need to pay a lawyer to make sure we handle the sale correctly, with seller financing etc. Thoughts?

Thanks so much for the information. It is much appreciated!

John

Thinking of purchasing an old mobile home located in a mobile home park. The price was $2,800 and I should be able to get for $1,500 to $1,800. The park honestly is sketchy at best and seems to be worse as you get further into it. The home though is the second one in, inside is in pretty good shape, Will need fresh paint and a few other minor upgrades. Will need a refridge and oven. Lot rent is $280 per month. Not sure if we do the minimum and try to rent it out, or try and do a sale with seller financing. What should we be leary of? Thanks guys!