There is a mobil home I can get it with a discount. I dont how much the owner pays for insurance, principal, taxes etc etc
The house is selling for 42k, i think its worth 55k
He also pays 430 lot fee monthly ( thats a lot to me ). I think i can take his house and make his payments so he can get rip of the property.
How would you do this deal? (I know im not giving a lot of information.) BUT, How should the numbers look in order for you to do a mobil home deal?
What are you trying to do with it, flip it for the $55k or rent out to someone?
Flipping: you better know your market and that you’ll get the $55k. The lot rent will eat any profits in no time.
Renting: you’ll most likely need to get the manager of the park to approve your tenant first.
Either case go talk with the park manager and see what you can do to delay lot rent payments or come to another arrangement.