Mobile home in a park buy, what is the norm?
So I looked at/ and am wanting to pull the trigger on a deal in the near future/tomorrow. I don't want to make a dumb decision either. So maybe some advice. The home is in a park near to where i live. the location is good. its a late 70 model so its old and needs to be fixed up. I kind of told myself that 3000 was the max considering the year and age, but at the same time, from what i have seen the only thing you can get in that range has to be moved, and cant be lived in as is. This ,however, could be if i had to. I would need paint, floors, and some more basics. Also, i need to replace the hot water heater and buy a window unit or two. Other than that its a small 2/1 place. I "made friends" with the park manager, and he is really easy to talk to and offered to reduce the lot rent (which recently went up, and is little high) So i was looking to buy, and flip it, or rent, or rent to own if the right person asked. My question is, whats a good buy price. the owner now seems to have a lot of interest at 6500, but i just think that because of the work needed that i need it cheapier. however, even if i just rented it. here is some fast basic numbers.
lot rent: 300
could rent for: 600
Thats 300 a month, and 3600 a year. no maybe not the ideal price. but for less than 10k still not bad. I don't know, i just feel that for less money the homes need to be moved and everything else i have seen is 10k +. I was in a hurry typing this before getting to work, so sorry in advance. Let me know thoughts... Thanks, Will