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$5,500 Mobile Home Deal in 3 Days over the Holidays

by Tom B., Rapid City, SD   

I have been doing "Lonnie Deals" now for 4 1/2 months. I remember reading in one of Lonnie Scruggs' books [Deals on Wheels and Making Money with Mobile Homes] about how he and his wife did a deal over Christmas one year. I had a similar experience.

I was scheduled to leave for New Year's for a couple of days. I got a call from a seller on one of my ads. He was moving to Alaska in three days and needed out of his 1973 Chickashau 14 x 70. It was in good condition, except for the red and yellow flames painted on the walls in the hallway.

He was asking $6,500. I met with him on my way out of town, checked trailer out, made sure he had a clear title, and put together a purchase at $4,000. I gave him the $4,000 cash in exchange for the title. I had arranged for my father to do a final walk through on Jan. 1 while I was out of town.

While out of town, I called a buyer who had called me on another cheaper home the week before. He said he had $9,000 cash and needed a house right away. He agreed to meet me and look at the home on Jan. 2, when I returned from my short trip. I met him that morning, got him approved with the park, and headed to the bank to get his certified check.

Oh yeah, this buyer was living in a motel. He did not look like he could even afford a newspaper. But--he had cash! Remember, don't judge a book by its cover.

I asked $10,500 and sold the home for $9,500 cash. I never even had the utilities in my name. So I made $5,500 profit, minus an $11 advertisement. Not bad for taking a few days off work to be with my family, huh? All deals might not all be this easy, but I'll take this kind of return any day of the week.

Thank you, Lonnie Scruggs, for sharing your knowledge and experiences with us. It was great to meet you in Atlanta at the Creative Real Estate Online Convention in March 2004. Good luck to you all.

 
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