Quick question from a beginner

[Tavaris Little]

Is there any possible ways for me to purchase a property that is very cheap and foreclosed even if I don't have the money to pay for it? All I really want to do is buy it and sell it quickly.

[Paul Amegatcher]

@Tavaris Little I have no idea what a mobile home costs and how much to pay for one in Greenville, South Carolina.  What you should do is research what mobile homes go for in your area fixed up.  Once you know the after repaired value then you can decide how much to pay for one that requires repair or one that someone is selling for $8k.  

Here are some questions for you:

What is your exit strategy with this mobile home? Do you plan to rent it or sell it with owner financing?  Do you plan on living in it?

Does the mobile home require repairs?

What is the rental rate for this mobile home once it is fixed up?

What are the maintenance costs?

What are the lot rental costs?

What are mobile homes in the same park selling for?  Are these same mobile homes fixed up?

These some of the questions I will answer before spending any money.

Paul Amegatcher