Anyone in the Atlanta area? - Posted by GeneM

Posted by jeff allen on February 13, 2002 at 22:09:45:

let me know how the mobile investigating is going…I’m interested in beginning as well…

Anyone in the Atlanta area? - Posted by GeneM

Posted by GeneM on February 13, 2002 at 20:28:14:

I am in the Army and being transferred to Atlanta. I am interested in Mobile Home investing. Can anyone tell me what the market is like?



Re: Anyone in the Atlanta area? - Posted by GG(NE GA)

Posted by GG(NE GA) on February 14, 2002 at 20:37:37:

I’m not in the Atlanta area, but will be considered metro next year. I’m in the North Lake Lanier area. I’m new to this also, but have found one MHP that seems friendly to deals just 10 miles from my home. If you will email me personally I do have the name of a large corporation that owns a few MHP to stay away from. The buyers have to have excellent credit and jump through hoops while giving blood and signing over their first born to live there. Actually I have sold two mobile homes (on terms) and bought a stick built for 15000 below appraisal, I just didn’t know I was ‘investing’.

Re: Anyone in the Atlanta area? - Posted by andrew_was (near Atlanta)

Posted by andrew_was (near Atlanta) on February 14, 2002 at 13:00:55:

Hello GeneM,

I’m near Atlanta, but am so new to the state that I don’t yet have any experiences to share. I live north of the metro area, near Lake Allatoona.

I have seen several small parks around as I have travelled the area north & west of Atlanta, but again have only been here a few weeks. I’m sure there are probably some larger parks somewhere, but all I have seen so far are >100 units, most less than ~ 50.

Have not gotten started investing yet, as I’m still trying to find someone in the local government offices who has a clue & can tell me for sure about licensing & business structures. Everyone I talk to has given me a different answer - just found the state website, so hopefully that will help.

Does anyone know if GA has “D.B.A. (Doing Business As)” regulations? In TX, one person, or one corporation, could have several different “DBAs”. Allowed me to be “Andrew”, or “XYZ Mobile Homes.” Also allowed me to open a personal bank acct (cheaper than business acct) which would accept checks made out to “XYZ Homes”, rather than to me personally.

It seemed more professional to clients, but as it is a sole prop. filing, it was much cheaper when just getting started than starting a corp. ($11 for 10 years). Plus if there was a problem, I could just be the “poor employee, with a mean manager at XYZ Homes making me do this”. Kinda hard to do that if they have been sending the checks to “Andrew”. :slight_smile:

Anyway, long story short, no one here in my local govt. ofc. (my city hall or county courthouse) seems has any idea what I am talking about. Does this state not allow DBAs? Do they just call it something else?

ANy suggestions appreciated.

Re: Anyone in the Atlanta area? - Posted by Tim (Atlanta)

Posted by Tim (Atlanta) on February 14, 2002 at 06:46:02:

As my name implies, I am in the Atlanta area. I have done some Lonnie deals here, but I wouldn’t consider myself an expert on the subject. There are essentially two mobile home markets in Georgia. The one that is in the metro Atlanta area and then the rest of Georgia.

The market in metro Atlanta for a Lonnie dealer is pretty tough. Finding a park to operate in is the problem. Almost all parks are either owned by large corporations that won’t let you deal in their park, or they are owned by smaller mom-and-pop type operations that won’t let you deal in their park.

The market outside of metro Atlanta is somewhat better. Those rural area mobile home parks would be more receptive to the idea of a Lonnie deal.

Since I am a pretty lazy guy, I don’t fight against the tide. Instead of buying Lonnie deals, I buy notes and partials. It is just easier for me. Perhaps I should get out and look for some Lonnie deals instead. Well, maybe not. Like I said, I am lazy by nature. Or as I would rather put it, I am efficient. My mom would call it lazy.