Posted by Jeff Porter (Ohio) on May 13, 1999 at 20:10:56:
I couldn’t agree more. The info in Lonnie’s books is priceless. I am closing my 2nd Lonnie deal tomorrow, I own another one that I am getting bites on and was just given a free MH, (Really ugly though but no lot rent due till July 1). All in less then 2 months. If you are considering buying Lonnies books JUST DO IT!! Quit whinning about the price!
Happy investing,
Jeff
55+ MH parks - Posted by Tim_AZ
Posted by Tim_AZ on May 12, 1999 at 23:29:44:
I almost have a Lonnie deal going (my first one). It is a 1973 14x60 2/1 in very good condition, except for a sagging roof, and some water stains which were sealed. Seller is an elderly woman asking $3500. It’s been on the market for about 8 months now. Her initial asking price was $13,000. I offered her $2000 cash, and told her to call me back and we can negotiate. She seems very motivated, and the price is right. However it is my first deal, and it is a 55+ senior park. I would need to find an older buyer and qualify them. Should this be a problem? Has anyone out there done deals in 55+ parks? Is it difficult to find buyers, given the limited customer base? I would appreciate any responses, and I will let you know how this goes.
Tim
Re: 55+ MH parks - Posted by Walt_FL
Posted by Walt_FL on May 13, 1999 at 08:48:52:
Tim,
Ditto what Dirk says! Family parks are the way, my 1st and only MH deal was in a 55+, lets just say I learned alot. One thing I learned was to stay out of 55+ Parks and to talk to Mgrs. 1st, No Pets for a 55+ is worse Yet. I still get more Calls on 55+ than Family, and I am still Tempted (Just recently offered $500 on a Doublewide and insisted that seller include Newer Window AC/Heater Unit or No Deal… I walked… ) and I figure if they “Force” me to buy it I’ll take a shot, but on my Terms. Family is the way and watch high Lot Rents, people don’t want to pay them and you will be paying it till sold. I also offered $800 on a furnished creampuff (55+). Lets just say it has to be a “No-Brainer”. Your money is made when you buy and realized when you sell, meanwhile you will be footing the bill. Get in Lite/Rite in a family Park.
Best Regards,
Walt_FL
Lonnie Deals’ – They’re too easy… Do your first deal this week…here’s how… - Posted by Matt S.
Posted by Matt S. on May 13, 1999 at 08:34:48:
Skip the 55 + park…
Move on to the older MH parks like Lonnie states in his book. Drive through ALL the MH parks in your area and right down the lot # and tel # of all the MH for sale.
I leave a business card at the ones without a tel #. Then call them…Look for MH from 1987-1970… or somewhere close to that…they’re the better deals.
In the right park you find at LEAST a couple of deals.
Here’s one I bought and sold yesterday:
Sign read: $1500 or OBO call XXX-XXXX
The MH looked great on the outside. I met with the owners and he already came down to $800 before I step in the door. It’s a 2/1 and it’s solid. Ceiling and floors are in great shape. Needs carpet, vinyl and the BR needs a good cleaning.
(One mistake that you made is making the offer of $2000 to the lady…)
The owner kept asking me what I thought is was worth. (*Remember you NEVER have to answer any questions, in ANY situation.)
I just kept saying, “if it was a car I could tell ya…but a MH I have NO idea.”
He then said $750 is the lowest he could go. (They moved out 8 MONTHS ago and were paying $100 lot rent EVERY MONTH!)
During the time he was telling me about the home I just keep walking around jumping up and down on the floors and checking the ceilings and “kickin’ the tires.”
DO as LONNIE says, DO NOT offer price. LET the owner state their best price. Every time the owner tells me a price I just walk away and look and the WORST areas of the home again and never say anything…SILENCE is comfortable and it’s the BEST technique for buying anything.
Every time the owner offers a price and you want it to be lower…say things like,
“Can you do any better?”
“I’ll pay you that if you’ll finance it but what is your cash price today?”
“For this older home I just can see putting that much in it.”
“I’d like to help you out and take it off your hands but I couldn’t get my money back at that price.”
*** Back to the deal, within (2) hours of buying the home I sold it without even cleaning it up!
I made a couple of calls and remember a lady that had been trying to get her son to move out. He just got divorced…I knew him casually… I called him up and told him I got a hell of a deal on a MH and was wondering if he was ready to move out…He said “YES!”
I ask him how much can you put down he said $500…I told him he could pay me $100 for 18 month and then it was his… HE almost fell out!! Done deal…
NEVER did I tell him ANYTHING about the MH… He bought is sight unseen!!
And NO, I did not run ads yet… to even test the water! I just went out and did it!
NOW, I challenge everyone else. DO a D*** deal within the next 10 DAYS!
BTW, my profit was over 200%!!!
Praise to Lonnie!
FYI, I only bought Lonnie’s book, “Deals on Wheels” for $29.95 read a few chapter and did the deal.
DON’T make this hard. Just get out and do IT!
Good Luck,
Matt
Re: 55+ MH parks - Posted by Dirk Roach
Posted by Dirk Roach on May 13, 1999 at 02:44:27:
Hi Tim,
In my market, I avoid +55 parks like the plague. Most here have a Mh assoication, which scrutinizes prospective tennets, and are a real pain.
However I have known some folks which have picked up Mobiles wicked cheap in a senior park and have moved them to family parks. However for your first one I would be lerry of trying to do a lonnie in a +55 park. Why deal with headaches?
Just my thoughts, but good luck
Dirk
Re: Lonnie Deals’ – They’re too easy… Do your first deal this week…here’s how… - Posted by Lonnie
Posted by Lonnie on May 13, 1999 at 19:38:06:
Congratulations Matt, way to go. Hope your story will motivate and show other folks that all it takes to do a deal, is to just DO IT! And you didn?t even finish reading the book? Maybe I should make two books out of that one.
Best wishes,
Lonnie
Steal from Lonnie today!! First… - Posted by Matt
Posted by Matt on May 13, 1999 at 19:50:46:
Paying $29.95 for “Deals on Wheels” is robbery!
I’m the one stealing…Lonnie book has MORE information than any other program I’ve seen on REI, stock market investing, and any other manual I’ve got on making money.
Poor Lonnie…he just too nice. He could have charged $697 for the material and thrown in some videos, audio cassettes, forms on diskettes… But not Lonnie, he gives you everything for $30 bucks!
It’s the whole package. Why am I tooting Lonnie horn?
To get you newbies, wannabe’s and everyone else that’s lazy off your butt to DO a deal!
Stop asking 20 questions to the experts and do it…ride through a MH park today. Call them tonight. Look at them on Saturday and buy on Sunday and sell them by next Friday!
It ain’t hard and it’s fast money.
M.