lot with mobile home and garage

Hey you crzy Frenchman, looks like you've got a nice deal going for you there. Could be a nice buy and hold or lease/option after some rehab. Nice going buddy, way to get your name out there. Keep me in the loop as to your progress...Jan

AWESOME!! Way to go. Thanks for sharing your story and I'm looking forward to hearing about how it progresses. Nice way to end the year!

Lea

I have to get over there and plow out the snow to asses exa ctly what can be donewit the mobilehome.I just posted on craigsist tower what happens so this may take me in a new direction but as of now I plan on buy and hold.will see if someone has their own mobile home to put on the lot.ITS GREAT TO HEAR FROM YOU JAN! !

????

Haven't posted about deals in a while so thought this would be a good start to finish deal! Will post as it progresses.yes squeezed this deal in justt in time! !
Jay

Just did a little research on the internet and found out the two brothers also own 2-3 acres behind this lot,this also may be a potential deal down the road.IWent to my county website and on the gis it shows the parcels with the lot numbers and owners. Iwiill call them to inquire. About. This. Sorry about the miss spellings and bad punctuatios as i am using my phone to be online and get On this site with it. But letters r small to hit .Iwill post as this deal unfolds.
Jay

Title company called today and abstract Done! ! This is the fastest. I have ever gotten a abstract done,a few days! !!! I believe is due to building a team and proveing you are an action taker and showing your team you want them to be successful too! The more you develop these great business relationships, the easier and faster your deals become.I am grateful to come in contact with this great company.thanks dan goodman! !

JAY

Sounds like an awesome way to end 2010!

Karen

Sounds like a great deal! I've been thinking a lot about mobile home investing. There are a lot of them in my area. I haven't heard too many other investors talking about mobile home deals. Thanks for the post.

I think the buy and hold strategy is a good one for now. Is there alot of rehab to do? I'm thinking if you can get the rehab done and get a renter in there and possible lease option it, you can start drawing some $$$. The other lots sound interesting also. All in all a good move on your part. But that is what I have come to expect from you anyway, you crazy Frenchman!!!!..Keep me in the loop....Jan

hey Greg ,this garage is seperate from home and i believe it is approx 24 *30. has all sides closed,there are hardley no carports here as it almost always is freezing cold here all winter,not sure maybe u just busting on me !!

karen,.....yes one last deal for yr and many more to come in 2011 !!

superbee....sounds like some good opportunities in your area.i once heard that these were little tin boxes that spit out cash and i agree with this statement.yes there r many mobile homes in my area too and i have done a few deals with these at a nice profit!! they can be negotiated for a great profit at a fairly low buying price and bring in almost the same if not more cashflow as a sfh plus they can be moved to any lot you choose.One of the coaches have an extensive knowledge in this area too and i have yet to gain knowledge from her but will do so i hope soon when i can ask her.I once bought an older mobile homefor 500 and painted interior and cleaned it out inside and sold it for 3000.These also r a good candidate for a lease option.
You should def think about this strategie if they r in abundance in your area !!
good luck superbee
jay

Jan,happy holidays my friend !!I agree the buy and hold is a great strategy now as we r in the bottom of the market and as we make a passive income(cashflow) for a few yrs till the market climbs then cash out for $$$$$$$$$$$$$$$$$$$$$$.I did a repair est on this and for me it would not be worth it so i am actively looking for another great deal on a mobile home to put on this lot.also just advertised it to sell on land contract before the closing .Thanks for all your faith in me Jan !! and you are crazier than me so right back at ya !! you know i look forward to keeping you in the loop.miss ya when i dont hear from you in a while !!.got to get down there soon to see ya again.say hi and happy new yr to the family !!
jay

Thanks for the follow-up to my comment, Jay. Thanks for the confidence boost about mobile home investing too. You're one of the most helpful and encouraging posters on DG.com.

Just wondering... Have you ever had a MH moved to a new lot before? About how much does moving and set up cost? There are always a few trailers for sale in my area for a few thousand $'s that just need to be moved. Thanks in advance for any input.

This sounds very similar to a deal that my husband and I are going to be looking into for our very first deal. He found a vacant lot (.9 acr) that is pre-foreclosure and is listed for $35,000. We also spotted a 2004 MH for 22,000 that needs to be moved. I also just signed up for the Success Academy. So I am thinking of calling my coach on Monday and for instructions on how to swing this deal. We are planning on holding and renting it out until the market goes up and then sell for close to 200K. Any comments or suggestions would be welcome!

In my experience it depends on the distance it is moved along with how much work it takes to tear down for example does it have block skirting? does it have wheels and axles under it or does the mover have to put these on ? also can the mover get his truck or moving equipment hooked on the mh without getting stuck or having to cut trees or move other large objects.can it be towed out of the lot without damage? how wide is the mh?
Another question is the tounge or tow hitch still on the home or maybe under the home and it needs to be welded back on to move ?? these questions are all something the mover needs to know in order give a price to move ,although some movers give a set price and make it high to cover all these costs to take the worst case scenario.the most i have pd to move was 5000,this cost included tearing out the skirting putting wheels and axles on and transfering 10 miles.Do not base any of your moves on this as i am sure it is different in other states and circumstances BUUUUUT get 3 or 4 estimates and ask THEM what they base their costs on and u will learn this fast without cost......JUST ASK !! good luck and if i can answer any more ?s just ask !!
jay
ps thanks for you r encouraging comments !!

congratulations on the success academy !! you will learn a great deal and remember you get out what you put into it .The coaches are awesome and dont be afraid to ask ANYTHING ,they will find the answers for you.
On the mh deal you are looking at for your first deal,i would suggest researching all costes associated with this very carefully.sometimes also there are hidden costs that you would otherwise know being a seasoned investor.I am not saying do not look at this deal but just advising to make sure you have all things covered such as if you dont get a home on the property right off then you would have the costs of an empty lot and taxes and no income coming in.In my experience on empty lots,you will want to have the mh deal locked up on paper with contingencies before i had the empty property bought .I am sure you know this but was just running thoughts through my mind on this deal.Good luck on this and there is a coach in the success academy that can guide you through this p[otential deal.keep me posted on your journey through this.
jay

I never would have thought of most of those things, except maybe the distance of the move... So glad I asked you! Great advice. Thanks.

Just another tip is to call and ask your insurance provider but I have had cases where I had to pour a slab under the my andINSTALL TIE DOWNS. I believe it iscode most places but not all but where it is not code it May BE INSURANCE MANDATORY and it reallly stinks if you already have the my on the lot without this so. Just be aware and ASK. First

Jay

Don't mind my mispellings or bad punctuation as I send most posts from my phone and the letters r. Lose together

Ok the absract is done but attorney is swamped. Waiting for closing but attorney has not called back in two days so I am calling him now to get status.YEst the sellers called me anxious to get $$$$ I have adv on co but no response yet so now I will change my ad.I advertised for 5000 monthly payments to fit your situation and sale price of 2000. so now I believe I will try 2500 down 300 per mnth and sale price of 19900 and see what response I get.you have to change things if you are not getting the result u want! !
Jay

Sorry my ad was 5000 down and mnthly pymnts to fit.sale price 20000. Now 2500 down and 300 per mnth. Sale price 20000. .I would be willing to sell this for 1000 profit to any one but preferably to a ever to get a deal done. If interested pm me.
Jay

I can't type today !!!!!!!!!!!!!!!!!!!!

You must have a touch screen keyboard on your phone. Ha, ha. Good tips about insurance. Slabs and tie downs, good grief. It's a good thing I know a few guys for that sort of thing.

the screen is hard getting used to.I used to drag my laptop everywhere but now have a droid phone with internet capabilities ,hence all the mispelled words and periods where they dont belong !! anyway check back with us to share how you are progressing on the mobile home strategy !!
jay

finally got an answer from attorney that he has been in trial for days .THE abstract was done in a few days but seller also just got back to me and said he thinks he has the judgement all settled,so i told him i need the paperwork confirming that to fax to the attorney so we can pay the lein off out of the closing fees.WELLLLLLL he said the lein is up to approx 3000 with interest ,now the purchase price is only 5000 so that does not leave him much for profit but at least he is getting the judgement taken care of.The two brothers who own this have to split the profit and one is not happy with the other i assume.ok anyway he said he will fax the total to me in the beginning of next week then i will forward it to my attorney.
It is amazing how twisted and tangled some deals can be or become but focussing on the completed deal and keeping your determination to see it through no matter what...of course with profit in mind....is of utmost importance !!!!!!!!!!!!!!
FOCUS,DRIVE,DETERMINATION,PERSISTANCE...........ACTION and you will succeed !!!!!!

I now am waiting on all the paperwork that is signed by both parties to be read by attorney and closing to be finalized.I talked to one brother a few days ago and he signed and sent to other bro to fax back to attorney..I am now waiting for the closing.
My craigslist ad generated a few more on my buyers list and many that looked at the lot with mobile home and garag.Two leads that I have do have 5000 down and can afford 400 and 500respectfully per mnth.one young is really interested withthe do@n pymn and had parents and handyman look it over twice,they said they r 90% sure they want it but needs alot of work and it being winter.......would take more labor AND MONEY to swing soooooooo I countered with a sale price of 20000 ...5000 down and I would only charge 100 per mnth for six mnths just so they could sink money in the trailer..they were talking about how they were going to haul away all the debri from rehab and cleanup and I chimed in with I WILL LET U USE MY DUMP TRAILER FREE OF CHARGE !! Well I am thinking I MAY have the deal almost pd for before I even get the first pymnt but we will see.I HAVE A good feeling we can make something happen but I am being patient.one bite at a time.
This is how i line up a buyer even before the closing.I BELIEVE this will be my 17 th deal since getting involved with dg.com. Will keep you informed on the progress.
Good luck to all who keep striving to make their dreams a reality !!!!
JAY

finally i closed on this property yesterday.everything went smooth and i am now legally the owner of this mobile home,lot with garage and paved drive.
when getting back home from vacation i have yet to hear from young couple that was very interested in this so i need to contact them. i now must market this more to get this out with profit....total cost for entire deal is $6,684.. not bad considering the sellers wanted approx $20,000.

I found their MAGIC BUTTONS and negotiated a great price AND cleared up a judgement for one of the brothers that still may have been adding interest to what he owed ....had i not wanted to take on this problem/obstacle.
so in short i got a great deal.....they got some $$$$........one brother got his judgement cleared up........and we r negotiating another vacant land right behind this home/lot that i may be interested in.

to tell a story further.......one of the brothers called many times in the last week to say he NEEDS $$$$$ and they want to sell this vacant land behind my new aquired lot.he said he was walking down the street and a dog bit and tore him up and had to go to the hospital.NOW he says his truck was parked on the side street and they towed and impounded it while he was in the hospital.Now he cant get to work ,owes hosp bills,owes impound bills and who knows what else sooooooooooo this is just some of what we encounter when we get into the game !!!! crazy sometimes but true. well im not sure if what he is telling me is true but i do know he wants to sell NOW and has a few CRAZY magic buttons !!!
Now on to putting some deserving soul into this welcome home !!!!
jay

wow i talked to the seller i bought this property from about buying the vacant land behind this mobile home a few days ago and one brother wanted to sell it now he tells me that he talked to his other brother and they cant sell it because the brother spread his dads ashes on the property and it has sentimental value.I wasnt prepared to hear that but i do understand.WOW some of the things we hear and run into in this real estate journey !!is exciting ,learning and crazy sometimes.
now i am still marketing this property with mh to find a buyer as the young couple that was 90 % sure they wanted it has not shown any more interest .I put it on facebook,in the free trader,word of mouth,...........will now put it in the local newspaper to see what happens.
hope all dgers are keeping their goals alive and doing something involving real estate EVERY DAY !!! good luck
jay

You do have a knack for the weird transactions my brother. It will turn out in your favor I'm sure....Jan