Posted by Steve-WA on May 22, 2006 at 09:25:42:
Baby step success story - Posted by Ray Marietta GA
Posted by Ray Marietta GA on May 19, 2006 at 16:47:19:
I have found most small parks aren’t willing to do anything as far as L/O or seller finance and often the big parks buy everything they can find available in their park. I can live w competition but where can I find an appraisal guide? I’ve put 2 bids out there and I’m flying blind as far as the MH value based on age, condition, etc. I cannot find a NADA book in this area so far. Say I find 98 or 99 3b/2b nice lot looks awesome nice mgmt, is $15k too much? I can say I’m learning a ton I didn’t know last week!
Re: Baby step success story - Posted by Tim (Atlanta)
Posted by Tim (Atlanta) on May 23, 2006 at 06:57:10:
Before you do something that will ruin your mobile home business, please get Lonnie’s books. Without them, you are guessing. If you have already made two offers, you have jumped the gun big time. Why would you put out two bids when you don’t know what the MH would sell for?
You are following a recipe for disaster! Please heed the advice you are given and order the book and read it twice.
BTW, I live in Marietta, and there are parks that will allow you to do Lonnie deals in those parks. You just have to look long enough. Don’t get me wrong, it is more difficult, but not impossible.
starting - Posted by JD (IL)
Posted by JD (IL) on May 20, 2006 at 07:12:19:
read the book, read all the posts…
ARC does not always buy up the old homes, this is PM dependant, and ARC discourages it, and may even fire for it… conflict of interest and all. I have personally been given 5 mo homes in the last 4 months by ARC PM’s.
Read the book… read the posts…
Re: Baby step success story - Posted by Todd (AZ)
Posted by Todd (AZ) on May 19, 2006 at 17:57:48:
Hi Ray…have you read Deals on Wheels? If not, that’s a MUST. I think perhaps you may be generalizing a bit too fast concerning your parks. You mean NO park in your entire area will let you finance? You’ve talked to ALL the park managers face to face and each one says this or you are just assuming this? Also, the best way to determine value, in my opinion, is to keep driving the speed bumps, get to know the market, and find out what folks are asking for and eventually SELLING their homes for. I’ve never even looked or seen a NADA book, nor do I really care to. Have you read the book by Lonnie Scruggs (Deals on Wheels?) Todd (AZ)
Who/what is ARC? - Posted by Talia FL
Posted by Talia FL on May 23, 2006 at 08:52:32:
Just wondering…I gather they are some sort of corporation…
Re: starting - Posted by IA Jeff
Posted by IA Jeff on May 22, 2006 at 12:34:00:
Did I read that correctly JD? “given”? Details please.
I almost have my first LD complete…finally. Then a trip to my local ARC park is in order!
I hope the Quad Cities are treating you well.
Re: starting - Posted by John
Posted by John on May 21, 2006 at 21:06:49:
Pardon my ignorance but what is ARC?
go further out! - Posted by roundhouse
Posted by roundhouse on May 22, 2006 at 14:37:38:
All the parks Ive been to within 30-40 miles of I-285 are very nice expensive “communities” with pools, tennis, etc, or they are park-owned weekly rentals to illegal mexicans.
Drive to Bartow or Paulding county.
Re: Baby step success story - Posted by Ray Marietta GA
Posted by Ray Marietta GA on May 19, 2006 at 18:11:46:
Cant find Lonnies stuff anywhere around here. Maybe you can only order it directly from his distributor? Ive hit more speedbumps in the last week than in my entire life so Im happy and out there looking. The PMs I have talked to at all the majors (ARC Prop) around ATL seem to want to buy the MH for themselves. I was thinking about maybe proposing that I pay the lot fee regardless and then throw it into the monthly payments for the buyer in addition to the note I would be financing for them through me. This way the PM has their money and you dont get the phonecall the buyer is late and have to move the MH which I can tell is something I never want to do. Whats your input on my potential lot + MH pmt each month?
skip down three posts - Posted by Steve-WA
Posted by Steve-WA on May 23, 2006 at 12:43:38:
Anne answered this very question
read Talia read
use the archives - Posted by Anne_ND
Posted by Anne_ND on May 22, 2006 at 07:24:30:
The answer (Affordable Residential Communities) comes up on the first page of results.
I agree with JD- ARC will not allow PMs to do Lonnie deals on their own. However, sometimes the park will buy older homes to keep them from moving out. It does sound like PMs have some discretion about things like lot rent discounts, etc.
can someone cue Steve (WA)? - Posted by Adam (IN)
Posted by Adam (IN) on May 19, 2006 at 19:21:50:
i believe he’s linked many a troubled “newbies” to the place where Lonnie’s book can be bought…i think he says “click this link once, read this book twice” or something like that, but much better…he should be here so to save you…
Re: Baby step success story - Posted by Anne_ND
Posted by Anne_ND on May 19, 2006 at 18:57:45:
If you can’t find Lonnie’s BOOK on the innernet, it’s no wonder you can’t find a Lonnie deal.
Get the book before you hurt yourself.
Re: Baby step success story - Posted by Todd(AZ)
Posted by Todd(AZ) on May 19, 2006 at 18:20:24:
Lonnie’s stuff is all over this site. I really don’t have any input for you on your lot and payment idea because any input from me at this point would be premature without the purchase of that $30 book. If you are serious about this, take a step back and buy the book and learn the correct way to do these deals. You are spinning your wheels at this point it seems. Todd (AZ)
Re: skip down three posts - Posted by Talia FL
Posted by Talia FL on May 24, 2006 at 24:36:25:
I already privately replied to Steve and thanked him for pointing me to Anne’s post since I somehow missed it while I was reading this site (which is why I ended up posting the question)…but I thought I would publicly thank him anyway…
ain’t really that hard, Adam - Posted by Steve-WA
Posted by Steve-WA on May 19, 2006 at 20:06:10:
consider yourself my protege’, and feel free to go to the book page, find DOW, copy the url from above, and paste here, like this:
Re: ain’t really that hard, Adam - Posted by Adam (IN)
Posted by Adam (IN) on May 19, 2006 at 21:38:47:
i know i know, just didnt want to steal your thunder…
steal away, we’s all friends here! - Posted by swwa
Posted by swwa on May 19, 2006 at 21:46:36:
glad you respect me so much, he he
nah…ive always admired how quickly - Posted by Adam (IN)
Posted by Adam (IN) on May 19, 2006 at 22:43:31:
you can direct someone in trouble to the “MH bible”…ive literally worn the covers off both my books (maybe be time to hit that link myself and re-order) & id suggest everyone gettin started do the same…keep on “linkin” us up!