First Deal in TEXAS, got a problem !!!! - Posted by Nancy Dallas

Posted by Nancy Dallas on May 18, 2006 at 22:16:44:

Thanks David!!
Actually, I didn’t know in TX one can only do one deal a year without license, thanks for letting me know.
How’s the foreclosure process in Texas on mobile homes, is it as easy as eviction? Is it also through JP court?

The home is older 84, but in excellent condition.Palm Harbor Mobile Home… very solid and clean…

Thanks for the help!


First Deal in TEXAS, got a problem !!! - Posted by Nancy Dallas

Posted by Nancy Dallas on May 18, 2006 at 17:02:00:

I am new at this, I just found a beautiful 3/2 home in a nice park and put it under contract for $4000, no repairs needed, comes with all applicances… However I’m finding a problem…

I called the assistant manager (the real manager is off today). I asked her if I’m allowed to provide owner financing when I want to sell the home in the future (I didn’t say I’m an investor because I didn’t tell that to the sellers)… she says no (she called it leasing for some reason), only those with their names on the title can live in the park… however they allow bank financing… I don’t understand how the bank will give the borrower a title before the loan is paid off… The assistant manager says the bank is a co-owner and will give the borrower a copy of the deed.

Has any one come across an situation like this? I’ll check with the manager again and if it doesn’t work, I might have to lower the price and move it somewhere else… what’s a average cost for moving a park within 60 miles plus hook ups?



Re: First Deal in TEXAS, got a problem !!! - Posted by Lin (NC)

Posted by Lin (NC) on May 19, 2006 at 10:01:31:

Here is an excellent, easy way to approach park managers and sellers that was taught to me by someone who was very successful at doing Lonnie deals: “I work for a company that provides affordable housing payments for buyers on used mobile homes. I would like to preview homes in this park for my clients.” (“I would like to preview your home for my buyers,” if you’re talking to a seller.) You then explain that your clients have passed an initial screening with your company, and would, of course, fill out an application with the park, and be approved before the purchase would take place.

You may even be able to salvage this deal by going back to the PM and re-explain what you do using this verbiage.

This is the approach I’m taking as I start doing these deals again, and it’s much easier for me than others that I’ve tried. It also paves the way for using options with the seller instead of purchasing outright. You can’t commit to buying a home until you have a client who’s approved by the park. Your risk is greatly reduced and your holding costs are zero.

I don’t know about Texas specifics, but it seems to me the PM must be a little (a lot??)confused about titles/deeds/liens. Hopefully there won’t be a need to educate him or her once you explain that you provide financing just like a bank.

Good luck.


Another Issue for you - Posted by Dr. B.(OH)

Posted by Dr. B.(OH) on May 19, 2006 at 07:28:43:


In an earlier post I suggested you talk with the PM BEFORE doing the deal.

You also mentioned there are two other homes for sale in the park for $13,000 and $18,000 with financing.

If the park is doing the financing of these homes you may be out of luck. At a minimum, they will try and sell their homes first. Worst case they won’t let YOU finance a home in the park and or won’t approve any of your buyers for the park.

Get it over with. Be honest with the park and tell them you intend to sell the home and hold a lien on the title just like a bank. If they don’t like it, bite the bullet and move the home out.

Happy Trai(er)s,

Re: Title - Posted by Gary (Tx)

Posted by Gary (Tx) on May 18, 2006 at 21:58:17:

First thing is the assistant manager is confused also. This will be personal property and there is no deed.

Check with the manager again and tell them you are selling the home and the title will be in the new owners name. You will have a lien on the home just like the banks do.

When you have time do a search for Karl(OH) as he has good article on dealing with park managers.

Re: First Deal in TEXAS, got a problem !!! - Posted by David Eppley (TX)

Posted by David Eppley (TX) on May 18, 2006 at 21:50:29:

Hi Nancy, it will cost at least $1000.00, and probably as much as $2000.00 depending on what the movers have to do. If they have to uninstall and then install, it could be much more. Shop around. You can give the buyer title (SOL, Statement of Ownership and Location), just record yourself as the lien holder with Austin. I’m sure you know that in Texas, you may only buy and sell one mobile home per year without a license. If the MH is on land that you own, and you make the election to have it considered real property, instead of personal property, there is no limit to how many you may sell. ( I just came from the $250.00 State class in Austin.) If it is on a lot in a MH Park it must be considered personal property. Hope this helps a little, also your deal sounds good, but how good depends on the age of the MH. David.

Re: Title - Posted by Nancy

Posted by Nancy on May 18, 2006 at 22:11:54:

Thanks for the explaination! I’ll check for Karl’s post.