All Forum Posts by: Johnny P.

Welcome to BP Bobby, good luck with the REO's!

Driving for dollars is a great way to find monster deals because its the only way to find half of these people who have their home for sale. You are looking for the type of person who put a for sale sign in the window and did NO OTHER MARKETING. This means they are going to get almost 0 interested buyers, and you can come along and "steal" it when they get desperate.

I agree with Terry as well - park managers are a great source for leads. I just got off the phone with one who has a free mobile home that needs repairs. I asked him how much repairs are needed and he replied " it needs appliances " :lol:

I would be careful about buying mobile homes to Rent out. You are going to be responsible for too much in my opinion. Just sell it with owner financing and stretch out the payments for 10 yrs. Its likely they will want to move out before they hit the 10 yr mark anyways, and you can just take the home back. Most parks I come across do not allow renting anyways so be sure to ask first.

Great idea Terry! I would love to see the contract you use for that. I would use it EVERY time as a negotiation tool! I would assume you could get the homeowner to drop the price easily with this strategy, i can't wait to try it.

Marilyn,
When you find a home you think could be a good buy, do a little advertising and see what type of response you get. Throw up a few bandit sings in the area, and post a few adds on CL.

I did this to get started, and once I had a good amount of responses to my ad, it made me much more comfortable with going out there and actually buying it! Maybe this can work for you as well.

SOLID! Thats an amazing deal. I'm hoping to follow in your footsteps with a doublewide i'm about to "steal" on the 25th.

I'm buying actual bandit signs at a local place for $ 0.75 each. and the stakes are 0.25 ea. I believe. They have them in every color, so I go with yellow, blue , whatever I think will stand out the most.

Can an agent represent the A-B & B-C in Florida?

We sold "as is".
One lesson we learned - make sure you at least put some cheap appliances in the home to help it sell. We really narrowed down our market buy selling with no appliances / holes in the floor etc, but luckily still found a buyer. Lots of CL add's and Bandit sings did the trick.

I received an email from a CL add I posted that says "I buy mobile homes" from a very motivated seller. They were asking 2500 cash but it needs to be moved which generally costs about 3k. I called a local MH moving company and he let me in on a little secret.... THEY JUST CALLED HIM AND TRIED TO GIVE IT AWAY FOR FREE if he would have it moved off of their property. They need it moved to avoid some type of zoning fine.

I also have a buyer who wants a cheap single wide to move onto her property, and also know of a park owner who will help me pay to have it moved into his park. I'm still trying to find out how much exactly he is willing to pay.

Is there any way I could put this mobile home under contract and assign it to the buyer I found??? I'm trying to avoid actually transferring the title into my name, because I sure don't want to pay to have it moved if my buyer falls through!

Just wanted to give an update, we ended up selling this one for 2300 cash, for a total profit after 1 mo. lot rent and title transfer of 750. Not bad for the first deal, we learned a bunch and now have 3-4 more deals in the works.