My First Mobile Home Deal

On January 1, 2000 I called on a mobile home listed in the paper for $6,500. During our conversation, I learned that they had just moved back home to Louisiana and the home was vacant. He informed me that the home would be able to remain in the park. I asked him at that time what his “best cash price” would be if I purchased by January 14, 2000. His price was $4,600.

I went and inspected it the following day and was pleasantly surprised at the condition. It is a 1977 14′ X 72′ in very good condition. I agreed to his price of $4,600 and purchased it from him on January 14, 2000.

I verified that the home would be able to stay with park owner. I am sure I will be able to work with her in the future. Anyway, I put another $400 into it (replacing door locks, minor painting, and yard cleaning).

I received a call on January 15, 2000 from the sign I placed in the window and had it sold the next day for $10,800 with $800 down and payments of $244.32 for 54 months. I have approximately four hours of time in this deal. Not bad for a part-time investor. As Lonnie says “good enough.”

By CREOnline Contributor

A content contributor to the original