Owner Carry back financing

[chrisellis]

I'm looking for mobile homes, that include the land that they are situated on, where the seller carried back the private financing on the deal. I was wondering if anyone had any ideas as to how I could find such individuals who have carried such financing.

Any ideas, anyone?

[rmurray]

Sounds like you might be caught in one of the work at home plans sweeping the internet..find and buy notes held by private individuals...At one time there was an advertiser here buying individually held notes..Basically like any business, you have to advetise to inform your prospects..Like any sales, finding propects is the hardest part...You can run ads in your local paper, radio, TV or even web sites that have a targeted audience...Also you can direct prospect with local real estate folks and/or closing attorneys. Good Luck with your quest...Of course you can visit your local court house, Since all real estate filings are public record, you could search for existinbg real estate mortgages in private names. The public records will have addresses...Then you hunt them down and make them an offer...Go For It

[David Oxhandler]

At this time there are allot more buyers then sellers of mobile home notes and many times the brokers that have been in it for a long time will keep the best earners for themselves.

I have been originating notes for years but have never been interested in selling them because I enjoy the income they generate. You can make a higher rate of return by originating notes yourself and create a more secure income. When you sell and finance the home you are the one qualifying the buyer and have a much better shot at bringing in a buyer that will keep making payments. I only buy land or land and homes for resale that are close to my home base. That way if the buyer hits a bump and fails to pay it is easy for me to visit with them, find out what the problem is and most often to get them back on track.

In the early 90s I started holding notes on homes that I had taken in trade for new homes. I discovered Lonnie Scruggs book Deals On Wheels I was very upset that he was telling the entire world the secrets that I stumbled on by mistake. While prices have changed over the years the book holds up very well today and has become the base for a huge following of "Lonnie Dealers" across the country. Lonnie recently converted the original book to e-book format and it is available for instant download