Re: First Lonnie Deal (cont’d) - Posted by John (KS)
Posted by John (KS) on December 08, 1998 at 08:30:27:
I agree with MattB, the deals are there. It may vary from state to state, but I think no matter where you are you can find MH’s for around or under $1000, someone will always need out badly. I have 5 MH deals done in only 2 months. I got three of them for less than $700, $1700 for one, and $2600 for another. I more than tripled my money on three of them and doubled it on the other two. the only reaseon I only doubled it on two was because, one was my first deal and I was happy to get it done, the other had title problems and I was happy to get it out of my hands.
When I started cruising parks, I started with the nicer ones I was familiar with. Soon I realized there were older more run down parks all over town I had never noticed before. The homes in these parks can be bought for next to nothing. The people in these parks are happy to end up with $500 in their pocket. They usually just want out because they are moving up to a house or nicer MH and want out of the crappy trailer, or they have fallen on hard times and cannot afford the $140 lot rent and are moving in with family. Remember you make alot of money on the buy. Always make lower offers even if you think the price they are asking is fair. Let them say no and think about it for a few weeks, then your phone will be ringing with a seller begging you to buy it. You didn’t mention if you had Lonnie’s books or not, if not get them, he teaches you how to run the price down when looking at a possible buy. Good Luck