All Forum Posts by: John Williams

Haha sorry,

Selling for around $6K with $1000 down

Carry the balance at 10% interest with pmts of $230 for 2yrs

If I sell it quick and spend less than $500 on repairs I will net around $3K-$4K

The buyer will pay lot rent.

No, I havent read D o W. I am too much of a tightwad to buy it right now, but I will eventually.

Forgot to mention, I was scared as HELL when it came time hand over the cash and almost backed out! But I feel pretty good about it now. A good learning experience for me.

The guy I bought it from turned down an offer of $1000 down with pmts. He didnt want to mess with it he said. I am gonna get that guys # on friday.

I finally snagged a mobile home a couple days ago! The hardest part so far has been finding a decent deal and I think I got one.

1971 single wide

Purchased for $1460.00

Trashed!!!

Lot rent $300 due on the first.

There was only one other MH for sale in the park and it was similar to the one I bought, the lady has it listed for $7K!!

I know it sounds crazy, but 30+ year old homes sell for about $6K-$12K!! around here.

I go to work on it this weekend, I will repair as much as I can with out spending anything and then put together a small budget and replace a couple things in the bathroom and kitchen. Already has newer water heater and furnace.

I have been running ads and already have someone interested!

Any tips for my first investment property are appreciated!

John

FREAKING HILARIOUS!!! I just got home from buying my first mobile home but im gonna wait to post about it so more people see this on the board!

I understand, if it was easy everyone would be doing it.

I think there is alot of opportunity here in my local market, I'm just trying to find the right strategy to use.

Thanks for all your responses, plan on alot more Q's from me!

Wow for half of the BPO!

Can you still assign contracts like that?

Thats one heck of a first deal!

What was your total cost?

Does your end buyer have to be a cash only buyer?

Would you mind giving me a rough break down of one of your deals?

How you found your SS candidates, how long the SS process took, etc.

Sorry bout all the Q's thanks again!

Well as long as its not impossible...

Was it harder to find buyers?

Did you have a 'buyers list' or did you just negotiate a screamin deal and list it?

How did you close your deals?

Thanks for the reply!

How did you pay for it?

What is it worth today?

Thanks, sounds like you learned some valuable lessons!

A couple Q's for you pros on here...

Here in Utah foreclosures and short sale numbers are booming, not as badly as AZ and FL but bad.

Utahs market is expected to bottom around 2011, a bit later than other parts of the nation. Prices are expected to drop 30%+

Is it possible to do SS flips in a local market like this?

If it takes 4 months to make a deal happen and prices are falling all the while is that gonna make it harder?

Thanks in advance,

John