55+ Parks - Posted by Kevin - WA

Real Estate Investing Mobile Homes & Mobile Home Parks
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Posted by Steve-WA on June 08, 2006 at 20:12:57:

'twas a home IN a 55+ park, not the park itself

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55+ Parks - Posted by Kevin - WA

Posted by Kevin - WA on June 08, 2006 at 10:00:10:

Hi,

I have read all but the last 30 pages or so of DOW, but I started advertising. I got a call for a unit in a 55+ park.

My question is whether or not most have found these more difficult to sell? It seems that the market is drastically limited, versus a unit that you can sell to “anyone.” I don’t want to get stuck paying lot rent for 4 months because I have a unit that most people can buy. I would appreciate some insight from people on this.

Thanks,

K

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Old folks R 1 tough market - Posted by John Merchant

Posted by John Merchant on June 09, 2006 at 15:26:41:

I’ve had my lesson in trying to do Lonnie deals in 55+ MHPs and no more for me.

That’s when I learned that it’s the rare old duck who’s willing to finance anything and they’ll shop the holy heck out of anything before committing at all.

So,as has been said here, unless you’ve got some Lonnie buyer prospects all lined up and qualified, stay in the Family MHP for your deals.

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Re: 55+ Parks - Posted by Kevin - WA

Posted by Kevin - WA on June 09, 2006 at 24:27:37:

Hi,

Thanks for the comments.

I was basing my plans on my own thoughts, and I have yet to do a deal. I wanted to get some Best Practices info rather than miss out on something that I overlook since I am so new. I want to follow the proven strategies rather than try to create a new system or improve something with my minimal knowledge and experience in this niche.

Thanks for validating my viewpoint, I appreciate it.

K

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Re: 55+ Parks - Posted by Mike (Seattle WA)

Posted by Mike (Seattle WA) on June 08, 2006 at 15:23:17:

Don’t go there early. I’ve still got 1 for sale I picked up “cheap” in Feb. I’ve listed it with a Realtor, puts ads everywhere, and still can’t get more than about 1 sniff a week (and no one with any real interest.) Stay family unless you have a lot of leads that will fit (or have a guarenteed buyer going in)

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Re: 55+ Parks - Posted by will(wa)

Posted by will(wa) on June 08, 2006 at 11:59:02:

I think you just answered your own question.

I’d say from my own experience, for your first few deals do them in Family Parks, there are plenty in Western WA, if that’s where you are. If you’re in Eastern WA, there are plenty there too.

You can find deals in the 55+ I’ve been told, but I want as many people to qualify as possible, to buy my units.

Will
Project Manager
Western Mobile Homes, LLC

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Re: 55+ Parks - Posted by Pam

Posted by Pam on June 08, 2006 at 19:59:48:

Mike, I would be interested in the 55+ park you have for sale.

Thanks.