Posted by Steve-WA on September 24, 2004 at 14:42:10:
if she’s compensated for finding MHs for ARC to buy, then why didn’t she turn them on to the one you bought?
weird -
see you in a week!
early bird catches 1979 14X66 for $1 (long) - Posted by Lin (OR)
Posted by Lin (OR) on September 23, 2004 at 16:09:28:
I usually read the classified ads first thing when I get up in the morning, so I can get a jump on anything new in the paper, but yesterday I skipped it until about 9:30 AM, doing nothing really important. There was a new ad in there with a 1983 double wide needing to be moved, for sale for $2500. I called as soon as I read the ad, but it was sold already. RATS! I won’t let that happen again.
So today, I got up at 6:30, started some coffee, and turned to the MH ads. Right at the top of the section: “FREE 1979 14X66 with tip out. In nice park, call for information.”
I called at 8:00 and was the first one to take a look. It was in a park I had approval in. The sellers had a home built and they had all new appliances, so all the appliances came with the MH, including a microwave and washer/dryer. They left snow roof, and vinyl for a floor repair they hadn’t finished, deck stain, and a half gallon of KILZ. Both bathrooms have been updated with new vinyl and tub surrounds, and the carpets are in great shape.
When I told them I’d take it they said, “At last, something’s going right!” and were genuinely happy to GIVE me this place that I can spruce up and sell for a excellent profit.
I’m telling this story to encourage new investors. To those who’ve been doing this awhile, this is no big deal, I’m sure. I’ve done fewer than 10 transactions, but the last two homes I paid almost nothing for. This is a great business, and once you get over the fear and start doing things, learn from your mistakes, and keep at it, it will amaze you what can happen.
Go out there and get permission to work in the parks in your area, and then you can be ready for that freebie you come across!
Looking forward to meeting everyone in Atlanta!
Lin
Re: early bird catches 1979 14X66 for $1 (long) - Posted by Barry (Or)
Posted by Barry (Or) on September 23, 2004 at 16:39:31:
Thanks for the encouragement Lin!
I have been home sick the last couple of days and haven’t been able to do anything. I have been out a couple of times talking to people. Nothing yet but I know it will pay off.
Looking forward to meeting you in Atlanta.
I saw the one in the paper that had to be moved for $2500 but I didn’t want my first one to be something that I would have to move.
Congrats on your first free one!
nice worm, early bird! - Posted by Steve-WA
Posted by Steve-WA on September 23, 2004 at 16:22:48:
statement - out of dozens of MHs I have bought and sold, I have obtained exactly one through an ad. But I still look every day!
And the weird thing is, it was much like your story . . . Early in my career, I was sneaking a look at the paper while on the clock at work, and I saw a “Must Sell” ad. Was a new park - hadn’t approached this cranky ol’ PM before, and he sure was suspicious of me! I took a couple hours off with my boss’ blessing, and bought that $4K listing for $1500. Sold for $8.3K cash. Was my second LD.
question - if you already had this PM on your side, why didn’t they give you the tip on this MH before the sellers put it in the paper? Surely the PM knew that they were building a house, and would be needing to dump the trailer? I’d let that PM know that a C-note could have been theirs for that tip . . . “any other potential sellers in the park?”
park manager tips - Posted by Lin (OR)
Posted by Lin (OR) on September 24, 2004 at 14:33:15:
Steve,
Good question. This is an ARC park, and they do rent-to-own. I mentioned a number of times to the manager that I’d be grateful, in a monetary way, for referrals, but the only ones she’d feed me were park-owned and overpriced. She’s probably compensated by ARC for finding trailers for them to buy, I’ll bet.
Anyway, I decided not to push it, just pay lot rent, and focus on finding a more cooperative park manager to work with elsewhere. I have yet to find that person, but I know they’re out there, and it sounds like I’ll get a big boost in business when I find them.
Lin