make the park a deal. buy the back lot rent at about half price and then go after the guy, he probably will not call you back. a 20 y/o has too much pride and will leave as soon as he gets gas money, that is my bet and ill put 10 on it. you might wanna try the money bag angle. go by with a pocket full of cash and tell him you are going to get another home but only thought it fair to stop in first to see if he had cooled down and came up with a more reasonable price.
Today I made my first foray into the lovely world of MH investing (I own other properties). 20 year old seller called from one of my signs and has a '81 14x56 and wants $3000 (although yesterday he said $2500). Seller is very motivated and needs to leave next week because he hates this town. Went to look at it and it was a DUMP – holes in floor, holes in drywall, garbage everywhere, a/c broken, carpet ruined, etc. I knew I wouldn’t pay more than $1500 for the place. I told him I’d speak with the PM about working with me and I’d get back to him. Also owes $650 in back rent.
So I called him this afternoon to tell him that I won’t be able to give him his asking price and that he’ll have to do better than that for a quick cash sale. Seller claims that my bandit sign says that I buy houses “any condition” (which incidentally my sign does NOT say) and that I should buy it at his asking price – he is “giving it away”. The seller then starts cursing at me, threatening me, etc. The funniest thing is that I remained totally calm so it made him sound that much crazier. I told him to call me if he decides he can lower his price. He claimed that he would never call.
I had a similar experience and the seller not only lowered his price as time was a factor for him. I also negotiated with the park mgr to sell me his debt for a discount (the manager was happy to do that because something is better than nothing). Since the home was in such poor shape I asked for a month free lot rent to fix it up. She agreed since she didn’t want an empty lot.Also to entice the seller, I called him back and apoligized (for the misunderstanding). It gave me a chance to state my price take it or leave it.
Re: First MH Offer – Seller Angry! Funny - Posted by JHyre in Ohio
Posted by JHyre in Ohio on July 09, 2002 at 10:24:08:
I’m with Chuck, you’ll get the home from the park once this guy skips…and he will. I love sellers with unrealistic expectations…I either don’t get the home (fine), get it from the park cheap or free (fine) or the seller calls back with a new and improved attitude. Buyers are even better…"I have a history of paying no one, I have no down, I need low payments, and YOU need to fix this place- I want new carpeting, blah, blah, blah…
Your attitude is excellent. That and a sense of humor will go far in this business.