Selling Mobile Homes with Owner Financing
The podcast with John Fedro really opened my eyes to the strategy of buying mobile homes and selling them with owner financing.
I just had some basic questions regarding this strategy and specifically buying the mobile home in a park/association setting:
-What is the typical term length and interest rate that is offered to a buyer buying a mobile home though owner financing?
-How much is typical for a down payment in these types of transactions?
-Once you sell the mobile home, if it is in a park the new owner pays the lot rent fee to the community, correct?
- If priced aggressively and if favorable financing terms are mobile homes relatively easy to sell? I just am thinking in terms of holding costs between the time you buy until you can sell.
Any help with answering any of these questions would be great. I am thinking after listening to John's podcast some may have similar questions.
Thanks!
