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!