For sale signs-Where? - Posted by Steve C (AR)

Posted by GerryH VA on April 10, 2002 at 21:21:38:

…for you gave the same advice to me about 8 months ago and it has made all the difference…(Isn’t that Robert Frost or somebody?)

Thanks Lyal

GerryH VA

For sale signs-Where? - Posted by Steve C (AR)

Posted by Steve C (AR) on April 10, 2002 at 07:47:07:

I have been looking everywhere for for sale signs in parks. So far I only found 1 repo, ($27k). It seems like most of the parks by up the fsbo’s. I’ve talk to a few dealers and they say they can get me some trade ins before they have two moves in them. Can you get these cheap enough? I know I need to make contact with more PM’s too. I’ll also place my first add today to buy. Also how many homes can you sell before the state notices you dont have a license? They want $6000 to start and I would like to make some cash first. I don’t want to get discouraged before I ever get started.
Steve C

Re: For sale signs-Where? - Posted by GerryH VA

Posted by GerryH VA on April 10, 2002 at 11:24:09:

Everything is based on your market, and I have not found a market yet that has not been amenable in some way to Lonnie Deals. Some folks make the mistake by driving in parks that they THINK all of the mobile homes are going to be within Lonnie’s price range ($2000-3000). These mobile home parks are usually more run down and many of the homes are rented by the park owner. If you are making this mistake, remember, you want to find motivated sellers not mobile homes. Motivated sellers are at the nice parks too. I have found in my region that if you find two FSBO in a park, that is usually enough for a month’s work. Have patience and don’t do something silly just to do something.

Good Luck and Keep Lookin’

GerryH VA

Nail on the head!!! - Posted by Lyal

Posted by Lyal on April 10, 2002 at 12:44:10:

Great advice to people entering the business! The old “Do something even if it’s wrong!!” does NOT apply. I’ve made many of those mistakes, paying too much to someone who wasn’t motivated, buying without talking to the park manager, buying trashed homes 'cause I thought that’s all I could get for the money ad nauseum…

Just to reinforce what Gerry has said. DON’T look for homes! Look for motivated sellers. Remember to follow the book. Write it down step by step if you need to. Talk to the park manager FIRST to make sure you’re not wasting your time. The PM is also your best lead to sellers who need to sell NOW for whatever reason.
All the best, Lyal