Flipping MH's? - Posted by Tim_OH


#1

Posted by nnn on October 12, 1998 at 12:34:48:

Can you tel us which web page you put up the post
please thanks


#2

Flipping MH’s? - Posted by Tim_OH

Posted by Tim_OH on October 09, 1998 at 12:21:26:

I’m going to buy my first MH today. I can afford to spend the cash on this one, but I think immense opportunity exists to negotiate many more deals ( I know they exist in my area). How would I go about finding an investor with “cash” that I can flip the deal or sell the note. I’ll outline the deal:

1970, 12x60, 2br, all appliances, nice family park, vacant (owner bought a new house), good condition, owner was asking $6,500, accept my offer for $3,000 (after 1 1/2 months), I think it will sell (w/ financing@ 15% interest) for $6,500-7,000.

I can buy this home and collect the payments, but I would like to move on to the next deal with (maybe) $1,000 profit.

Any ideas?

Thanks


#3

Re: Flipping MH’s? - Posted by Karen McCall

Posted by Karen McCall on October 10, 1998 at 09:19:04:

I asked this question in the Chat room the other night and got several very good answers here are a couple:

  1. you could sell the note or part of the note to recoup the capital.
  2. You could issue a bond for title (if it is legal where you are) that is to say you give the buyer a contract stating that when the mortgage is paid in full he receives the title, you take title to the bank and borrow against it (make sure that it will be paid off prior to the borrorws note with you.
  3. This is what I did: I put an ad on another web page that allows you to post investing opportunities (sp) and I got a call the next day from someone who knows Lonnie Personally and goes to all the seminars and understands how this works offering to become my money partner.
    Hope these spark your creative ideas if you think of any more email me I’m always open for a good idea.