From the course: Analyzing a Real Estate Deal
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Looking for anomalies in the market
From the course: Analyzing a Real Estate Deal
Looking for anomalies in the market
- [Instructor] I want to share another story really quickly of one of my very, very first deals. The anomaly was one I've never run across before or since. The property was listed as a manufactured home. But the picture on the listing looked like a stick-built regularly framed house. Well, if you know anything about manufactured homes and stick-built homes, you'll know that manufactured homes sell for a lot, lot less. Well, the house was listed as a manufactured home and it was priced as a manufactured home but the house looked like a stick-built house. I had to call the agent. I said, hey, your picture looks like a house, but the listing says it's a manufactured home. Well, the real estate agent assured me that it was a manufactured home. So I went and looked, well, sure enough, it was a stick-built house. It was very unique though because whoever built it had actually excavated out the ground and back the trainer…
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