Posted by JHyre in Ohio on April 23, 1999 at 09:57:07:
That info is VERY pertinent here in NW Ohio…I owe you one. We should get together sometime with some of the others from the large CREOL contingent in Ohio.
Thanks again,
John Hyre
First Lonnie Deal-ALMOST!!! - Posted by Art Montano
Posted by Art Montano on April 21, 1999 at 22:16:36:
Well today I did my first Lonnie deal-almost. I found a nice mobile home in the paper for $2000. When I checked it out I noticed it needed some carpet and lenolium. No big deal since she was leaving all her appliances incl. a new refrig, washer and drier, almost new central h/a. Screen carport. 12x55 w/shed, and lot rent paid up too.
After some bickering, I had the price down to $1300 w/$1.00 dn. and rest when she was out. I think Lonnie would have been proud.
Everything was fine until her sister showed up. Thats when sister grabbed the title and registration and ran off yelling something like “She’s nutts. She’s not selling this home for that little amount.” The lady I was dealing with had only her name on the title, so I don’t know what her sisters’ problem was.
Next thing I know the sheriff was there looking for this crazy sister. Well, I took off like a rocket and told her to call me when the got all this strighten out.
I know one thing, if I do buy this home, I’m darn sure to get insurance on it quick. Gee, this was supposed to be my first Lonnie deal, I sure hope it gets better, I can’t hardly stand all the fun I’m having so far.
Hey Lonnie, I never read about this in your books, is this something that I have to look foward to? I think next time I’ll take a copy of your book and show it to my buyer and tell them that this is the way it should work , so don’t diviate from it. (Ha Ha). Thanks all for letting me tell this little story, Art
Re: First Lonnie Deal-ALMOST!!! - Posted by Robert McNeely
Posted by Robert McNeely on April 22, 1999 at 08:43:27:
I don’t have a problem with the amount of the discount you talked her into. I just bought one yesterday for $500, they were asking $2,000. The sister was out of line, however if the seller is a little off her rocker the sister may have a point. I took the most notice of the $1.00 down. If you were serious a $100 to $500 deposit might have shown this sister you ment business. You needed to have enough at stake to show you would have come back to finish the deal after she moved out. I say this when I too, only put $10 down on a $70K house(But I knew the people). Some times we can push a little too far, in the excitement of getting a good deal. To possibly salvage this deal call the seller and tell her you would put up $1,000 now and the $400 after she moves out(get the signed title now however). Suggest she talks this over with her sister. Keep going though you are getting close & good luck.
Re: First Lonnie Deal-ALMOST!!! - Posted by Lonnie
Posted by Lonnie on April 22, 1999 at 08:39:37:
Hi Art,
Nothing like a good chuckle to start your day off. Thanks for sharing. Too bad this happened on your first deal. Call the seller back and make an appointment to meet at the nearest burger joint, instead of the MH. Maybe you can do the deal while the Sheriff still has custody of the nutty sister. (This might prove to be a good negotiating point to get the seller to lower the price. Who would want to buy a MH and have to deal with a nut case?)
I wish I had kept a diary on all the flakes and weirdoes I?ve met over the years when I was in the rental business. And I?ve had my share in the MH business as well. What a book that would make. Too bad my memory doesn?t recall many of those fruitcakes, but one does stand out that I?ll share with you.
Back when, I had a rental property which consisted of 15 small efficiency apartments, all side by side, one story. The walls were made of concrete (cinder block) and the floors were concrete. One of my tenants was a young single man in his early 20?s. He looked and acted normal until one day when he opened the door about 10 inches, motioned me over, and started telling me in a low voice that he wanted me to do something about the people in the next apartment. When I asked what the problem was, he said “those people in the next apartment are always talking about me and they watch every move I make.” I said “you mean they look at you when go in and out of your apartment?” “No, they watch every move I make while I?m inside my apartment.”
I asked how they could see him while he was inside his apartment since there was no windows, or openings. He opened the door, invited me in and pointed to the walls and said “through all those holes.” When I looked at the walls, they were covered from top to bottom with S&H Green stamps. (Don?t know if green stamps are still around, but they used to give out stamps when you made a purchase. When you accumulated enough, you could trade them for merchandise.) So whenever this nut “saw” a hole in that concrete wall, he slapped a green stamp over it so the next door neighbors couldn?t peep through the hole and watch him. (If I could have recovered all those stamps, I would have had enough to trade for top prize.)
I told him I would have a talk with his noisy neighbors, but for him to just ignore them. I managed to keep him settled down until I convinced him he should just move away from those nutty neighbors and find a better place to live.
Another time, I knocked on one of the apartment doors, and the tenant opened the door with a 38 in his hand. I asked him who he planned on shooting. He said his girlfriend gave him the gun and told him if anyone bothered him, he should fire off a couple of rounds inside the apartment to scare them off. (Imagine a 38 slug bouncing off concrete floors and walls.)
Welcome to a great business. If you work it right, you never have a dull moment, you meet lots of interesting people, you have fun and you make lots of money, too. What a business!
Go get em?
Lonnie
P.S. Maybe we should start a “chuckle of the day” from folks with an interesting tenant/buyer story.
Re: First Lonnie Deal-ALMOST!!! - Posted by Dan (NC)
Posted by Dan (NC) on April 22, 1999 at 07:52:51:
Most of the folks you’ll be dealing with are real high maintenance. You’re going to need a suitcase full of patience. But if it were easy, everyone would be doing it.
Re: First Lonnie Deal-ALMOST!!! - Posted by CarolFL
Posted by CarolFL on April 22, 1999 at 06:31:07:
Thanks for the tip… Add to the list of “to-do’s” to leave the car motor running!
Find out when the sister is at Bingo and try again then!
Carol
Re: First Lonnie Deal-ALMOST!!! - Posted by JHyre in Ohio
Posted by JHyre in Ohio on April 22, 1999 at 09:42:03:
Bob,
Enjoyed meeting you at the convention. Question: What kind of MH & what year did you get for $500? What were the circumstances? I’ve got two people that want to put used 14X60/70’s on their empty lots. Given that moving will be involved, I need to be sure I leave plenty of room for profit. Found an '85 Redman in decent shape for $5k from dealer, including move. Strikes me as on the high side. I’ll be looking at more in Toledo and Lima this weekend- asking is usually about $2k to $3k for 70’s models and $8k to $9k for 1980’s…given that that’s “market”, I need to get less than half to make profit and cover move. In the process, I’ve found several MH’s for sale that do not need to be moved off the lot…so if I buy those, I’ll leave ‘em where they’re at. I figure that if someone MUST move MH I can get a vey good price & put it on one of my buyers’ lots.
Anything else I need to think about?
John Hyre
To Lonnie & Others - Posted by Kevin OK
Posted by Kevin OK on April 24, 1999 at 16:15:16:
The fellow who was concerned about neighbors talking about him, and watching him, etc. was showing symptoms of Schizophrenia. Each of those symptoms are forms of paranoia, and easily treated with medications.
It would be helpful to those poor souls with such symptoms that they be referred to your community’s mental health center for treatment…available virtually free in every county in the country.
Kevin OK
And Lonnie, you’re not even in California! - Posted by Dirk Roach
Posted by Dirk Roach on April 22, 1999 at 13:31:38:
Lot’s of flakes out here. But your right some of these ridiculas people just give you a chuckle and you keep moving on.
Dirk
Party at the Park - Posted by John Behle
Posted by John Behle on April 22, 1999 at 18:21:12:
A friend and I were having lunch with Barney Zick. Alan mentioned he had stopped by a rental on his way home from a contruction site to collect some overdue rent. They said they didn’t have it and Alan said "That’s OK, I was going to knock the house down anyway.
He went to his truck and started unloading a Caterpillar tractor he was towing. They came running out with cash.
Barney had one (or one of his clients) that was inhabited by some seedy element. He posted posters all over that mentioned a party at the nearby park the next Friday night. Free beer, a band, etc. Friday night his tenants were gone and he razed the property.
Re: First Lonnie Deal-ALMOST!!! - Posted by Dan in Dallas
Posted by Dan in Dallas on April 22, 1999 at 09:23:13:
Unfortunatly if you leave your car running in many MH
parks you’ll have to walk home!!! 
Re: First Lonnie Deal-ALMOST!!! - Posted by Robert McNeely
Posted by Robert McNeely on April 23, 1999 at 07:32:27:
The $5K on the mid-80 does not sound bad if it includes the move. I moved my first one in Jan 99. Yes, it was a learning experence. It was a 1987 purchased for $2500, total cost by the time it sold was $8200 (long story). I was able to sell at $13,900 for a 42% return, still not bad.
I have just purchased a 1984 for $5K + $1500 in back lot rent. I would be thinking $8 to $9K is too much for any thing in the 80’S. You are close to my market and prices I have paid in centrial Ohio on 80 models have been as follows: 87 @ $5K sold for $13,900, 84 $5k(plus lot rent, helps to endear you to the park owner), 88 @ $5k sold for $13,900, 87 moved Total cost $8200 sold for $13,900. ( I do use prices other than $13,900) I personally do not want to pay over $6k for any MH in the 80’s. Hope this helps, Bob.