Exactly what can I get for $2k and sell for $4k??? - Posted by Potsie Webber

Posted by lyal on March 28, 2001 at 10:53:50:

Generally if you post with a real name you’ll get a response otherwise you’ll be ignored.

First, forget any preconcieved notions you may have about people living in mobile homes. You’ll find people from all walks of life, from blue collar to MD’s that just have different priorities. You’ll meet the same cross section of really nice people and not so nice ones. I’ve bought total wrecks from white collar types and pristine places that I would have no problem living in myself from owners who were a bit dentally challenged (for want of a better term).

The only way to find out what 2k will buy is to go out and look. Each market is different. You’ll need to “play the game” to find out. Don’t bother with newspaper ad prices or dealer listings. They are not the motivated seller you’ll be looking for. You’ll need to “ride the speed bumps” as Lonnie says, find a few small hand scrawled “For Sale” signs tucked in the corner of a window and get out and talk. After some small talk, you ask “If I could pay you cash tomorrow, what’s the absolute best price you could give me?” After they answer you, add a little more small talk and then “Are you sure that’s the lowest you can go…for cash?” If they haven’t thrown you out by then you’ve probably reached their best price (Note: DO NOT buy anything at this point. There is still more work to do like finding out if the park manager will let you fish in his pond). The next part is to talk to park managers about sale prices. They are the best source for finding out what you can get for a particular home. They will be in most cases talking cash-out price. You can charge more if you hold the financing.
Sorry for the length of the post. Hope I answered some of your questions whilst the smarter people that do this are at the convention.

Exactly what can I get for $2k and sell for $4k??? - Posted by Potsie Webber

Posted by Potsie Webber on March 28, 2001 at 09:10:21:

Hi Potsie Webber here, I am a few chapters into Mr Scruggs book “D on W’s”. I am just very concerned as to what I am buying for $2k and selling for $4k. I mean I get a mental pic of me being some type of slum lord. Can I expect mostly run down junk and selling to people on welfare or just above the poverty line? Or can I go to bed knowing I have sold something of decent quality?