All Forum Posts by: Leslie A.

@Daniel Smithson. Thanks so much for explaining this. I really appreciate it!

I don’t know. I was just curious. 

@Jack McWatters

Would you mind breaking down how you arrived at your target price?

@Paul Bermingham. I haven’t done this, but there is a book called The Section 8 Bible. I thought it was excellent

Another thing, ask around and find out who has been living in the park a long time. Talk to them about whether the park has ever flooded, how bad it was, etc

@Ryan Thomas. I was going to say this. Part of good due diligence is looking at insurance policies and how much the insurance currently costs. No need to guess.

Ahh. Happy to help and thanks for the upvotes! 

Facebook and Craigslist. Last time I looked at MH Village prices they were high retail, so don’t go by that. 

Btw, what kind of MH is this?  Year, size, etc? 

@David Denzy

My impression is that NADA shows a higher value than what you could sell it for. Again, this is my old knowledge. Don’t know how it is now. Wouldn’t hurt to have a look.

I think you’d get a more accurate picture by looking at for sale ads and how fast the homes are selling.

Yes, but be careful to get your valuation from what the home could actually be sold for, in real life. Not what is listed in a book or the insurance company says. 

@Patrick Sears

Disclaimer: I’ve been inactive for several years and my advice is based on “old” experience.

I would suggest you proceed with extreme caution. Make sure to do more research before jumping in.

Creating notes on mobiles is lucrative. However, when I was active in mobile home notes, they had a very low value. They aren’t comparable to notes on real estate in value at all. The fact yours will be on land helps, though.