Am I stupid or what? - Posted by David (OH)

Posted by Karl (Oh) on January 23, 2002 at 09:40:29:

Great idea, Blane.

David, you put the deals together, and I’ll be happy to buy the notes from you, say, 50 cents on the dollar? What a wonderful idea!


Am I stupid or what? - Posted by David (OH)

Posted by David (OH) on January 22, 2002 at 11:44:45:

Hi all,

This is a “If you were in my shoes, what would you do?” type of question. I am in the situation where I will more than likely (>50%) move away from Ohio in the next 6 months. Unfortunately, my newspaper adds, business card, and PM contacts suddenly over the last couple of weeks seem to be yielding some tempting deals. Am I crazy to consider buying anything more at this point? I’m already a little worried about my current holdings and what I am going to do if they default.

My problem is that I could possibly stay here in Ohio. It seems like such a waste to let perfectly good deals pass. Anyone been here? And so what if one note defaults? Just like in DOW when Lonnie talks about 1 out of several deals going sour, the return is so high on the others that you still make out in the long run.

Any suggestions? Lay low or throw caution to the wind?

Re: Am I stupid or what? - Posted by Blane (MI)

Posted by Blane (MI) on January 22, 2002 at 23:09:50:


Depending on where you are, maybe you could partner up with John Hyre, Karl Kleiner or another fellow Buckeye MH’er. That way you’d still get a piece of the pie even if you leave. Better than nothing methinks.


Re: Am I stupid or what? - Posted by Jacque - WA

Posted by Jacque - WA on January 22, 2002 at 19:38:55:


Personally, if I were moving I would not be investing in any more deals.

These Lonnie notes, at times, can be high maintenance ?.even the good ones suddenly seem to get behind. I have not had the experience of moving as my notes are all nearby, however, I have listened to many investors complaints over being in a pickle so far away and being taken advantage of by those buyers who know you are not near enough to do anything without incurring great costs to yourself.

I am certain that some do?.the things you need to think about are how you can evict being a distance away?Do you have someone in place to help in collection, legal work, sale and resale in that state?
Here?s another thought, is your corporation going to be in that state or yours (foreign entity).

Lots to think about?no right or wrong here?


Probably :wink: - Posted by Chuck (AZ)

Posted by Chuck (AZ) on January 22, 2002 at 12:21:07:

If this move looks like it’s gonna to be happen, I’d sell these assets to another local “lonnie-investor”, for the seed money to start again when you get re-settled.