Chapel Hill, NC · Member since 2014 · 116 posts · 56 votes
I have come across a very motivated seller that keeps calling me back wanting me to come out and see her property and the manufactured home/ trailer she is selling. Her husband just passed and she is looking to move out quickly and head to FL closer to family. So I will be heading out tomorrow to take a look and hopefully make her a fair offer.
I have started looking for comps but can't find many similar units that have sold in the past 6 months. She is out in a rural area on about an acre of land, it's not a park. How would I determine a starting point or ball park.
I am still new to REI and only have experience with single family homes at this point. Any help is appreciated.
My goal is to wholesale or if I can get her down low enough I will pay cash and either flip it or rent it out.
Gee I wish I was doing that appraisal, Not, have already done plenty, Rural location, first expand to 12 months then to 2 years if necessary unless there has been something to make an impact on local market, most likely not the case in a rural location. And expand the radius as far as you need to that has similar locational characteristics. (Distance for amenities) I would rather find a sale that sold 2 years ago, that has a similar size/value site, and a similar sized Mfg Home, then a closer more recent one with a big difference in lot or structure. Don't use a Doublewide as a comp if subject is a Single wide. And make sure you check that well and septic.