For Mr. Lonnie Scruggs: - Posted by Debra(SC)

Posted by David Alexander on January 28, 2000 at 21:26:46:

Absolutely it is. Post more details on the park, I’m sure you’ll get response.

David Alexander

For Mr. Lonnie Scruggs: - Posted by Debra(SC)

Posted by Debra(SC) on January 28, 2000 at 15:20:43:

Hi Lonnie,
My name is Debra you emailed a reply to a post I had about a junker MH that I didn’t know what to do with. I appreciated your candor in giving advice on the matter. I have since, come into contact with another investor her in SC where I live who is more of less mentoring me and keeping me motivated, so I am really thankful I found the creonline website.

I have a concern about a small MHP and my investor buddy suggested I email you, because he was not sure of all the options available in this possible deal.

The MHP park has 4 MHs, 3 are rented as one recently became available. I spoke to the owners previously about a MH they had for sale for $5500, but I decided against it because at the time, it had to be moved. They are an elderly couple and are both in ill health. They said they really want to
sell the entire park, including the 10 acres that comes with it. They thought of expanding, but their health won’t allow them to do that much work and asked if I might be interested in buying! (I was flabbergasted - I’m just a newbie).

Anyway, my first thought was to buy the vacant MH from them using owner financing, if they would go for it, and do a Lonnie deal, but I can’t help thinking that there might be a deal in the entire park. I don’t want the maintenance and management that goes along with MHP ownership. Do you
think it is possible for me to option the MHP and find an investor to get it from me? I really need your input.

Yours truly,


Re: For Mr. Lonnie Scruggs: - Posted by Lonnie

Posted by Lonnie on January 29, 2000 at 07:56:39:

Hi Debra,

As David said, give us more details…Is there a total of 4 lots in the park, or just 4 homes? How many pads, lot rent, # of park owned homes, is the 10 acres approved for more lots, how many and the cost. Asking price and how the sellers arrived at that price etc.

Spend considerable some time with the sellers and learn their needs (and wants). Do they want, or need all cash? How much cash do they need now and why? What would their tax ramifications be if they sell for all cash, as opposed to an installment sale? Would dependable monthly checks (and how much) suit their needs more than cash? Would they consider a lease option?

Read the chapter again (when you snooze, you lose) in Making Money w Mobile Homes to refresh your memory on some things to do. This could be a good deal, but you won?t know until you gather the appropriate info.

Hope this helps,