mobile-home-invest-444-How do you determining the value of your manufactured home when selling for payments or as part of an seller financing option? Here is a great question –> What is the value of any item or property?

The answer is exactly:

===> what a buyer is willing to pay for the mobile home with cash, payment, and/or trade.

===> whatever the market will pay for the mobile home during that time frame.

Understanding Down Payments:

If you plan on reselling mobile homes via monthly payments then you will most likely be requiring a down payment from your prospective tenant-buyers.

Remember 1.)

The down payment of your mobile home will very depending on the condition of the home at the time of resale. This means a “handyman special” type of mobile home may only attract $2000 or less for a down payment. However a home that is “move-in ready” will attract a much more substantial down payment depending on your local market. Always know your exit strategy before purchasing any and every property you own.

Remember 2.)

  • The GREATER the down payment the LOWER the total purchase price you may charge over time.
  • Conversely, the LOWER the down payment you accept from a low-risk tenant-buyer, the GREATER total price you may charge over time for the property.

general-guide-for-down-payments-mobile-homes-new

Pro Tip: A down payment greater than 20% the sales price will significantly reduce a tenant-buyers default rate.

Bullets to Consider:

  • Do not undervalue the inexpensive mobile home you just bought.
  • Make your Move-In Fees and monthly payments realistic and fair for your tenant-buyers. Base them on your local market mobile home review and the as-is condition of the home you are selling.
  • The future is bright and ours for the taking!

If you have any mobile home specific questions please do not hesitate to reach out and get them answered.

Love what you do daily,
John Fedro

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