All Forum Posts by: Lark Mercer

I have a mobile home that I will be buying for $8000 and I also already have a buyer who wants to lease to own for $8000 down and I'll hold a four year note for $12,000. They will pay for all moving cost. I am wondering what hidden things I should look for or be weary of when doing a deal like this? How would you structure it? Certain type of contract I should use? I am basically making $12,000 out of thin air and would like for this deal to stay legal. What legal issues in Georgia are there? Also, the mobile home is currently occupied until purchased. The person buying wants to see the home but I do not want them finding out what I am buying it for. How would you get around this?

@Aaron K. Well the guy isn't an investor and basically isn't worried about making money on the deal. He is definitely not money minded. On both acres it is half and half. Half being woods and half being cleared land with the cleared land directly facing the road. It has a driveway directly out front also. He already has a mobile home on part of the property but that is the part he is keeping and he has agreed via contract to make his own drive way for that mobile home. Basically it is excess land he wants to just trade for something. The land is valued at $14,500 right now and I have my van for sale for $10,000 with the initial investment of $3000.

Alright, so about 8 months ago I bought a camper van to live and travel in to see the world. It is totally self sustainable with solar power and generator power. It has the full set up inside for sleeping and living. I did a road trip in it for 6 months where I traveled from Georgia and zig-zagged my way up to Oregon and then zig-zagged back to Georgia to sell my investment. So basically to me it has paid for itself 10X because of all the experience I've been able to obtain from it. So, when I put this item on the market place to trade for real estate and then a buddy of mine messaged me to see if I wanted to trade it for 2 acres of partially cleared land. The land didn't have a well or septic tank and is zoned ag1. From my research I've found that I can put 1 sfh per acre of land. I'm not going to do that though. My idea is to do a lease to own option where I require a down payment plus $350 a month for 15 years per acre of land (2 individual acres) Does this sound like a feasible plan and if not what advice would you give? Also, it's in rural area so finding comps for it has been extremely hard. What method do you suggest me to find comps for this? Contact a real estate agent? It's also a part of his 5 total acres and we would need to divide them out so I can get my two acres and then split my two acres into two 1 acre plots. Would an attorney do that for me?

So I'm just wondering what everyone would choose if it can down to a 10 unit apartment complex or 10 individual single family homes. Each unit would have the same type comps. 3br 1 bath. What would you choose and why? I'm kind of torn because there is pros and cons to both.