Updated almost 8 years ago on . Most recent reply
Purchasing a mobile home from current tenant
I have a tenant in my park in WV who are looking to buy a house and is going to move out. She has a 2013 Clayton single wide ( 14 * 70 ) trailer she wants to sell. She paid $35000 for the trailer 5 years back. Any idea what will be her trade in /wholesale price? Thanks!
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@Aman S. Most owners avoid it because even though the #s look compelling, it becomes a PITA to manage payments over the long-run. Nonetheless, the dynamics of your market, your park and your strategy might be different than the average park owner.
Plus, you should definitely try this strategy especially if you get a sweetheart deal on this park.
One way you can do this is to act like a middleman and take a share of the rental income i.e. if the park is rented for $300, you can take a $100 fee to manage everything for the existing owner. This way you can you can test your idea without spending too much money.