All Forum Posts by: Justin Saxon

Thanks for all the advice! This is an 89 mobile home complete with tires and tongue. It is also my second deal. The first one was already in the park and the inside was pretty nice. All I had to do for that one was paint the ceiling and install newer appliances I got off of craigslist for cheap. The roof for that one was completely shredded but I still was able to sell it in that condition and made a profit of $1800. Not bad for 26 days of work.

For my new deal the park is giving me a $1500 allowance which will cover the lot fees for about 4 months. All i'll have to pay is water, sewer, and utilities during this time which isn't much.

@Lynn Harrison: That is a great idea you have for the floor. Roofers will cover the existing plywood instead of replacing sections when there's enough damage. I never thought about doing that for the floor.

Someone from the city will come out and inspect the hookups. I'll only cut the owner a check if the city says it's all good. March 1st will be when I make a final decision on this so I have time.

There's no skirting on it now. It already has tires and a tongue on it. The roof, ceiling, and walls appear to be in decent shape but the floors and everything else will have to be replaced.

I could have the park move it and hook it up for me for up to $2,000 but if i do that i'd only offer $500 for the trailer itself. I'm looking at making a gross profit of $10k when it's all said and done.

Here's the list of things to fix:

New floor (at least 2 sheets of plywood to fix some soft spots)
New kitchen sink, cabinets, counter tops.
New carpet and tile.
Fresh coat of paint for the walls and ceiling.
New windows.

So here's the deal. I can buy this mobile home for $1500 and pay $400 to have it moved. The truck driver will handle all the permits and is responsible for hooking up the utilities. It already has the tongue and wheels on it so that's a plus. After it is moved and hooked up someone from the city will inspect it.

Here's the question. When should I pay for all of this? I'm thinking once it's in place and passes inspection is when I should pay but I don't know what is common practice for this. Is there also anything else i should look out for?

Hello all I hope this is the write place for my question so here goes.

I recently purchased a mobile home on leased property with the intention of either selling for a profit or doing a lease to own. I found out from the park manager that I absolutely had to have a dealer's license to do lease to own.

Even worse I spoke with someone on the state level and found out one of the requirements for a license in the state of Colorado is to have a net worth of 100k! How on earth can you become successful doing this without already being successful to begin with? Any advice is greatly appreciated.