Dan Paton: All right, here we are, looking at a fourth home. This is a home that we bought in a partnership with the park. They want this home out of here. This one needed a little more TLC on the inside than the park would prefer to work on. I love the curb appeal on it, so when I got out and looked at this thing, I couldn’t believe how nice it looked on the inside. A hoarder lived in this home. The park spent the time, money, and energy to clean it out. I think it was a three or four dumpster project. And it’s not a big home, it’s a single-wide. They had a lot of crap in there, but it’s all cleaned out now. We bought the home for fifteen-hundred bucks. I think we sold it within forty-eight hours for sixty-nine hundred dollars. And all I did was put a nail in the doorframe and hung the keys. And I took pictures, of course, went around a took pictures of the home and measured it. A local park in South-Eastern Michigan bought this home from us and they’re going to drag it over to their park. So one park will see a home as “I have to get rid of it,” and another park will look at that same home and say, “I’m going to put that in my park.” And there’s an ROI for him. So parks have different modes that they’re in, depending on their finances and what they’re trying to achieve. And this is one that worked out for everybody. One park gets a pretty nice home for their community, this park gets rid of this home without having to write a check for demolition, and we’re in the middle. We make a nice little margin on the deal.
Dan Leighton: They’re going to put a brand-new home in here, and they’ll sell it and do just fine.
Dan Paton: So the genesis of this deal was basically that they picked up a phone, they called us, and they said, “Dan, we have a couple of homes we want you to look at. Come out and look at them, make me an offer, get them out of here.” And here we are. When that guy’s caller ID shows up on my phone, I’m always feeling pretty good. Something good is going to happen. So we can do a quick walk-around.
Dan Leighton: There’s our cat friend! If you’re going to be in this business for a while, be prepared to see cats. And dogs.
Dan Paton: So it’s a cat-friendly home, as we can see. But I think this was re-sided. It took the brunt of a hailstorm, and I think it was re-sided.
Dan Leighton: That’s what I remember: immaculate.
Dan Paton: Yes, and keeping the critters out. That’s important.
Dan Leighton: Metal windows, two-by-six, that’s what we’ve got here.
Dan Paton: It had central air, we don’t know if it worked or not. The folks who were living here were living in this right up until probably a week before I got possession of it.
Dan Leighton: There’s your tape, still.
Dan Paton: Yes, there’s my tape for measuring the home.
Dan Leighton: That’s funny.
Dan Paton: It’s just a really nice, sided home.
Dan Leighton: We’ve got a couple of screens that need to be repaired, some shutters need to be painted, but man oh man. She’s good looking. The roof looks good.
Dan Paton: I was really happy with it. I could take five of these a week.
Dan Leighton: Yeah, no kidding. They even matched the skirting to the house. You don’t see that very often.
Dan Paton: So we’ll go inside, take a quick look. One of the issues was that there were obviously hoarders living here, but also that pets had lived in here kind of on their own for a while.
Dan Leighton: One thing I’d be careful of is bees. There’s an old hive right there, and when you’re in the mobile home business, be prepared, because you’re going to see lots of bees.
Dan Paton: Oh, and here’s where we put our keys. On a nail in the doorframe. Just to make it easy for everybody. Two-by-six construction…[Catches odor from bedroom]. You can smell that…
Dan Leighton: Ugh, pretty powerful isn’t it?
Dan Leighton: Yeah
Dan Paton: Yeah
Dan Paton: You can’t see smell, can you?
Dan Leighton: No…it kind of stings the nostrils though!
Dan Paton: But it’s all coming from back here. The master bedroom is pretty full of feces. And I disclosed all that in the description of the home. The buyer knows what he’s getting. He knows he’s going to have to do a deep clean, pull up all the carpets. Repaint.
Dan Leighton: They’ll seal the floors, probably. The ceiling looks brand-new. It’s just gorgeous. Cabinets look like they’re in decent shape, they’ve got a little bit of wear but they’re all there. Once again, if you look past the filth and the smell, you can see dollar bills. In ninety-percent of the homes that we get, the carpets have to be ripped out and put down new anyway. Ninety-percent chance it’ll get painted. Vinyl gets replaced. And [gesturing] repairs like that where a cat probably scratched, they’ll fix that, put on a new trim piece, paint it. This home will look like a million bucks when they’re done. And someone else will get to live in it.
Dan Paton: The park that bought this from us, he has to compare the cost of buying this home versus a brand-new one. A brand-new one of this caliber…all in he’s probably looking at forty to fifty potentially. That’s delivering everything. You can probably get this thing fixed up, gussied up, and delivered for twenty.
Dan Leighton: Yeah, I think you’re spot on.
Dan Paton: So less than half the cost. That’s why it makes sense to that buyer. But, boy, that’s a ripe smell, isn’t it?
Dan Leighton: Yep. I smell money, though!
Dan Paton: That tub is pretty filthy.
Dan Leighton: Like we’ve said before, you walk into some of these, and you feel like you want to walk out. This might not be for everybody, but, I’ve got to tell you, Dan and I have been doing this for, combined, thirty years together. We’ve been a company for thirteen, fourteen years. And this is part of the business, guys. This is what you might call an ugly home, but at the end of the day we made five fifty some hundred bucks on this, and that’s a heck of a windfall. And we didn’t have to do a lot. Like Dan said, we got a phone call, drove over, took photos, took measurements, put the key on the nail in the doorway, marketed it, and this thing was sold within forty-eight hours. Pretty good deal.
Dan Paton: Yep. I don’t know about you guys, but I’m ready to step outside and get some fresh air.