best out of all this is my question. nesisary details;
almoste paid for, title is obtainable, weak floor having dificulty's fixing, i want to add a 10 by 10 greenhouse and a sun porch, landscaped nicely, well gardened and groomed, bad neighborhood( but neighbors leave things be and complement the work done and as long as i keep to myself mostly its all good,) needs some wood work done, and i am wanting to fix it up to re-sell as a small investment to put what i can get out of it tward a new trailer on its own private land out in the country to live in while i biuld the log cabbin i have been drafting for over 14 years. It dosent look like i am going to get back what i invest into it so how do i invest less and make more without going too far at it and getting screwed in the deal, this is a flaming question on my brain for some time so anything is good help, it would be nice if i could get details and some explanations so i can understand fully, i need idias. thank you so much.
2006-12-19 06:39:31 · 5 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
my trailer is so affordable its not normal, lot rent-$100, payments to trailer monthly-$150, gas-$60, electric-$35, water-$23 how cool is that, i hope this is usefull info for ya'll.
2006-12-19 07:50:03 · update #1
Just a little info for you....a 1974 mobile home can not be financed. Anything older than 1976 is not built by HUD standards and no lender will touch them. You will end up selling it on the same terms as you have bought it.
This won't help your dream of building a log cabin at all.
The only way that anyone can buy it would be cash right now, (extremely hard to find) unless you can make it a permanent structure with the land. Talk to your township zoning office or city zoning to find out if and what you would have to do. (Remove tongue, remove tires and build a permanent foundation under it are 2 examples IF they allow you to).
Also check the banks and mortgage companies in your area for financing capabilities (if any).
I would not invest money into extras for this home. Fix it up really sharp, but put the money away for your next investment. Insulate well, add new windows to make it energy efficient, new carpet, new paint, ONLY if you receive the right answers from the zoning and banks. The neighborhood will hold you back, unfortunately, also. That's why my recommendation not to spend your money on over-improving.
Best of Luck!
2006-12-20 00:25:44 · answer #1 · answered by Barbara 5 · 0⤊ 0⤋
Ah "rent to own" is generally a bad idea, unless you have a lawyer go over the paper work. The reason I say this is, you could pay rent for years, and if the owner dies, what happens then? Will the heirs come in and say "too bad, move?" What if you are late with ONE payment, can the owner evict you? You see, you will need a contract that will protect you. Also what about major repairs? The water heater, roof, etc? You really need a good real estate contract. Pay the several hundred dollars and have it done. You may regret not doing it later. Also what about the taxes? Who pays those?
2016-05-22 21:36:00 · answer #2 · answered by ? 4 · 0⤊ 0⤋
On mobile homes, it is hard to get back what you put into it. most people who are in the market for a trailor are not looking for a nice one, but one they can afford. And you will sell it quicker, which will save any financing cost you may have, wich will save you more money in the long run anyway.
2006-12-19 07:37:36 · answer #3 · answered by Lt Smash 1 · 0⤊ 0⤋
Sell it now, as is. It will only keep depreciating and you couldn't add enough to make any more off of it. You might put $3000 into it and only make $1500 more. So you LOSE $1500.
Just sell it now.
2006-12-19 06:46:26 · answer #4 · answered by Phoenix, Wise Guru 7 · 0⤊ 0⤋
check your green house
2006-12-21 01:22:44 · answer #5 · answered by Anonymous · 0⤊ 0⤋