All Forum Posts by: Zion Greenfield

I am an investor in Asheville, NC and the market in my area is already very saturated so good deals are hard to come by. I have been looking to the surrounding regions for deals and Greenville, SC has caught my eye. 

I would like to connect with investors and realtors in the area to start exploring the market. I have learned from several friends that there are some promising parts of the city where prices are still relatively low. 

I live only an hour drive from Greenville, which makes it a desirable place for me to invest and I look forward to meeting people who know the area!

Cheers!

Yesterday I looked at a single wide trailer with 2br 2ba on half an acre of beautiful flat land with two very large sheds and a fire pit in the back yard. The trailer was built in 1998 and is in immaculate condition. The property has been on the market for a couple months and was just under contract but the buyer could not find financing during the due diligence period. The asking price started out at $74,900 and was recently dropped to $69,900. This unit will rent for around $800/month. If this was a 2br home on this land in this market I am sure it would sell for over $100,000 (that is conservative). I am considering putting in an offer at $54,000 hoping to settle for around $60,000. I am having my realtor run comps on it now. This is the first time I  have considered buying a manufactured home. I have heard that it is advised to buy single wides without the land they are on, and double wides with land, however the numbers on this would run better than any properties I have looked a in the area so it is very enticing. 

Thoughts?

I have decided that I will be using a mortgage attorney to write out the entire deal. It will cost me about $1000 when it's set and done (her doing everything including the closing) but after researching it seems its a no brainer especially for my first deal. Thanks everyone who responded! 

I would like to do my own title search so I do not have to hire an attorney for a deal. How is this done?

Okay so I am using a generic contract to get this thing in writing. How do I go about doing my own title search? I want to avoid any chance of a due on sale clause. 

The property is in Asheville, NC

Thanks for the response! What do you mean by put it in writing and where is the sales contract that I am handing to the title company coming from?

Last week I negotiated a deal with a seller for an owner financed deal. I would like to get this under contract as soon as possible, however my agent is not able to write the contract because she is with Keller Williams and they would only allow her to write it if they got a piece of the pie. My agent, as well as an investor friend, referred me to a mortgage attorney to write the contract. I have not heard back from the attorney yet in two days. I would like to get this contract sign asap and I was wondering if there was a way to get a contract written up without the mortgage attorney?