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.