Boats - Posted by Michael

Posted by Joe C. (AR) on March 19, 2006 at 12:49:52:

No, I’ve never done the storage buildings, but I met someone who did. I bought a used one from him once. He had a small, tilt type utility trailer modified with rollers on ramps. He built his units with 5x5 pressure treated skids at the very bottom. As long as he could get the trailer to where the shed needed to be, he could just tilt and roll it off. To pick it up, he would jack it up slighlty in front, back the trailer to the skids and used a winch to roll it back on. In most cases less than 30 minutes to load or unload. Pretty slick really.

He would rent or rent to own, at prices that compared to mini-storage with a little extra for the convenience of having it in the back yard.

A local dealer here hires a wrecker guy with one of those roll off type wreckers to do pick ups and deliveries. They also winch the sheds up onto the truck body. Those truck are quite expensive to buy however.

Joe C. (AR)

Boats - Posted by Michael

Posted by Michael on March 18, 2006 at 09:37:59:

I am considering using the “Lonnie method”, take over the payments, or lease purchase for buying a deck boat, house boat, pontoon boat, etc, for my personal use…and/or building a business assigning these items to an end user and collecting assignment fees for these items? Any advice or input? Thanks!

Re: Boats - Posted by rolando

Posted by rolando on March 18, 2006 at 18:21:54:

an apple is an apple an orange is an orange

Re: Boats - Posted by Glen (OH)

Posted by Glen (OH) on March 18, 2006 at 15:58:47:

If I remember correctly, Lonnie says that the real value is in the financing. He just happens to use mobile homes as the vehicle for doing it.
Speaking of vehicles, I have Lonnied at least 5 vehicles and even, a riding lawn mower.
A friend of mine owns a janitorial company and I have sold several cars to his employees and he pays me directly with ‘payroll deduction’. Every body wins with those deals. I sell my car at retail, the employee gets a reliable car that he couldn’t afford otherwise, and my friend gets a way to get his employees to work.
Give it a try and good luck no matter which way you decide to go!

Glen (OH)

Re: Boats - Posted by Anne_LLC

Posted by Anne_LLC on March 18, 2006 at 13:15:45:


Last year at the CREOnline convention I met a young investor who used the Lonnie methods to buy and sell cars at his college. He found people who were selling cars below blue-book value because they were graduating or some other reason that motivated them.

Then he advertised them on the university bulletin board to sell at just above blue-book value (used the bb value to justify his price) and he sold them on a contract. He made quite a bit of money his senior year of college and now he works for himself as a full-time investor.

If you know your market it could be a great way to make some money.

good luck,


Re: Boats - Posted by Gary

Posted by Gary on March 18, 2006 at 12:38:57:

It will work. In my area prime time to buy is December when the wife wants some junk under the xmas tree and it’s zero outside. I usually trip over a couple deals a year and sell them at a high traffic location I own on a lake.

Re: Boats - Posted by Todd (AZ)

Posted by Todd (AZ) on March 18, 2006 at 13:40:54:

Hi Anne, Michael, others. Any other input into Lonnie deals for cars or 5th wheels/travel trailers? The reason I ask is that my Lonnie deals are too few and far between. There are limited workable family parks here and I’ve been working my butt off trying to make the deals happen but the volume just does not seem to be here. I’m doing all Lonnie suggests, have good relations with the PM’s, ride speed bumps often, flyers up every month, direct mailouts to the ONE somewhat “good” park, offers made, getting well known as someone who will buy, etc, etc. Still its very slow coming. I need something else. Land/homes are next but prices are about $85K so they don’t cash flow. Many 55+ parks here and I have thought about venturing there out of necessity but most advise against this as you know. SO, I have considered cars and/or travel trailers. Yet they have their problems too (mainly WHEELS,lol). What’s a motivated guy to do now? I’ve racked my brain for the last 6 months straight over this, day and night, and am wondering what else can be done? I have a positive attitude about Lonnie’s, etc so that is not the issue here. It’s more of a “reality setting in” issue that, yes, I can and will do more L/D’s here but not at a volume needed to satisfy my hunger. Cars? 5th wheels? Storage Units? 55+? Anyone??? Thanks, Todd (AZ)

Re: Boats - Posted by Marty (MO)

Posted by Marty (MO) on March 18, 2006 at 18:44:51:

I don’t know your living situation, but I’ve met a couple of people who moved to a place better suited for Lonnie deals. You also might consider partnering up with someone who has more deals than money. Instead of moving, if I was in your shoes, I think I’d dig up a mentor to show me what they do.

Have you joined a local RE club? What are people doing to make money investing where you are?

As hard as you’re trying, something will fall into place.

Re: Boats - Posted by Joe C. (AR)

Posted by Joe C. (AR) on March 18, 2006 at 16:22:27:

I tried cars once but didn’t fair too well. Everything was fine until one had his insurance cancelled. I tried to repo but couldn’t find it. A couple of weeks later a wrecker towed it to my yard, totalled. The folks I know that do cars, boats, campers etc., get all their investment back as a down payment. That way when they lose one no lost money.

Portable storage buildings seem like they would be better, as long as you have a way to pick them up.

If mobiles on are allowed on private land in your area, you could buy large tracks, subdivide, sell the lots on payments to mh owners, or buy mh’s that have to move and sell the land/home on time. Minimal risk that way. Folks are doing the land thing in my area outside the city limits, where zoning is not a problem.

I have bought some cheap rehabs (stick built) and instead of renting I sell on contract. They cash flow and I price them high enough that I usually get them back after a couple of years. I sell again at a higher price and get another down payment.

Just my .02
Joe C. (AR)

Re: Boats - Posted by Allan(Tx)

Posted by Allan(Tx) on March 20, 2006 at 23:05:59:

I’ve heard of payment enforcement systems for cars and looked online.
found one at ppsontime

Take a look and consider it.
It disables startup after the payment is due.
The lender gives the borrower a new access code that resets it for the next month. The system gives 3 days notice via lights, adds a beep the last day and then doesn’t start until a new valid code is entered.

Deadbeats can’t start the car.

Check it out, and note the GPS info under wireless.

Sounds like a good idea for car loans.


Re: Boats - Posted by Glen (OH)

Posted by Glen (OH) on March 19, 2006 at 09:58:53:

I have always liked the idea of the portable storage buildings. Do you do them and if so, what type of equipment do you use to move them?

Also great idea on Lonnie dealing the rehabs!

Glen (OH)

Re: Boats - Posted by Daphne Lowe

Posted by Daphne Lowe on March 21, 2006 at 17:03:30:

Being a landlord, I’ve heard of no pay, no stay.
But no pay, no drive away! Maybe its time to start exploring a new niche…