Nov 21
207 Clifford Rd. Exterior
SOLD-Most mobile homes are ignored by investors. However I ran into one local investor who creates opportunity using distressed mobiles unique characteristics to his advantage that turn most investors off. The genius behind owning single-wide mobiles is the cost to profit margin. It costs less than a house generally to purchase, the taxes are usually lower due to a lower assessed tax value, therefore he said to me, ”I can buy mobiles all day long, fix them up for a couple thousand and rent with option to buy. If they wreck it, I keep there option to buy deposit and fix it up and do it all over again.”
The HUD home featured today is a 3BR 2Bath 1995 16′x70′ mobile with a 3 car garage and what looks like a smoking shed for meats. The interior is in fair condition. Needs wall board repair, new flooring.
It sold for $43,600 in 2005 and is assessed by the county tax dept. for $45,000. HUD’s asking price is $30,000. Wait if that was not enough, let me tell you what I discovered while researching this property. It has 14.98 acres. The road frontage is 412 feet. Which means that you might, and I say might, because I do not know where the mobile is positioned in relationship to the property lines. But if it is to the left or right of a imaginary center line splitting the land in to two the other lot could be developed or sold off for a profit of $8-12k.
The address is 207 Clifford Rd., Fulton, NY and is currently open for Investors to bid as well as owner occupants. For more info or a showing call 315-952-2671.
207 Clifford Rd. Garage
Kitchen
Living room
Nov 05
The stock market is currently down 200 points after the election of a new president. Hmm, what to do.
Well I think the stock market is a great place to buy-NOW-however a more practical and stable approach is the rental market in real estate. Owning rentals is probably the best income generating investment today and even when the market changes tomorrow. Here are my top picks in the HUD market.
SOLD-31 Powers Drive in Lacona, NY. Just outside of sandy Creek is this 2483 sqft colonial home with 4 BR and 2 full baths on a half acre parcel. HUD had it priced at $36,000 but is now $32,400 and open to investors.
SOLD
-My favorite pick is 2262 Lamson Rd. Phoenix in the town of Lysander. Sold in 2006 for $69,900. The home has 3 bedrooms 1 bath. The lot size is approx. 1.5 acres. Well and septic. HUD’s original asking price was $59,000 which went to $52,000 and sold then popped back on the market for $45,500 and awaits an investor or home owner occupant. There is one foot of water in the basement, the hot water heater and furnace will need replacing. Call if you dare for your showing today.
Located at 142 Brookfield Rd. this 4 bedroom 3 baths 1544 sq.ft. Cape-cod. The remodeling necessary to make this your next cozy home includes interior and exterior paint and floor covering. Extensive kitchen and bath remodeling could be differed till later. The roof looks to be 5-10 years old. Out the back window I discovered a fenced in backyard and an in-ground pool. The forced air gas furnace was not the old coal converted octopus type but perhaps 15+ years old. There are two hot water tanks. There is a two car garage and the lay out is a bit unconventional due an addition of two bedrooms each containing its own bathroom that was added at some point of this homes history. The price is $55,000. HUD will help pay some closing costs about $1600. Which means the total amount to close as a owner occupant is about $5000. Total taxes are $3100. For your showing contact Adolfi RE at 315-695-6434. Hurry, HUD homes go fast.
