Posted by Tony-VA on July 18, 2002 at 11:27:08:
Hey Matt,
It would appear that you have not read, or need to review Lonnie’s book “Deals On Wheels” for sale here. It discusses in detail exactly how to negotiate these deals. I will give you a couple of ideas but still suggest you review that book so as to get the additional benefits of how to structure the deal, how to negotiate the sale with your buyer etc., etc.
First be sure to meet with the park manager and get permission to work in the park. Get to know them a little bit and find out if they are someone you think you can work with.
If so, then begin to negotiate your deal. Always be willing to walk away from the asking price of the deal. Remember, you don’t have to buy, they have to sell. You can spend your money anywhere.
Lonnie’s moneymaking, “If I paid you all cash today, what would be your best All Cash Price?”
Then flinch visibly at whatever they say. Don’t say a word. Let them speak next.
Then if you still don’t like their counter. Explain that as an investor you are prepared to pay them cash for their home but that you need to have a price that makes it worth your investment. Hand them your card and walk away slowly. If they don’t catch you in the driveway, they will more than likely call at the end of the month when the lot rent is do.
This will help you get started but don’t forgo spending $30 on Lonnie’s book that will make you thousands of dollars. There is no use trying to re-create the wheel (no pun intended).
Best Wishes,
Tony-VA