FRUSTRATION, FRUSTRATION. - Posted by Demetrice (AZ)

Posted by emmett hudson on August 05, 2005 at 09:33:45:

iwish i had not read this i to am starting out in va an two of the pqrks i have been to the managers are doing the same thing,all i will get a chance at is what they dont want.

FRUSTRATION, FRUSTRATION. - Posted by Demetrice (AZ)

Posted by Demetrice (AZ) on August 05, 2005 at 07:54:57:

man i hate to complain, because i have so much to be thankful for, but at the same time i dream about one day being finacially independant,and im frustrated because i cant get my first deal done, first of all im trying to do business in phoenix area, i have about 15 buyers, no mobile homes, why, because everywhere i go, the parks are buying up all the homes(and financing them), the for sale by owners are asking 7 to 8 thousand for pre-1976 homes, greentree’s not paying the lot rents on the homes they have for sale,man i really hate to be negative, but i just feel like i need to vent, is there anyone else out there, who started off rough, but ended up okay?, i refuse to give up on this, i read deals on wheels, and i feel this is something i started and want to go all the way to the top with it. please share your rough start stories with me i need some encouragement.


Posted by The55+Guy on August 06, 2005 at 14:25:45:

“…everywhere i go, the parks are buying up all the homes (and financing them)…”

Are you sure? Have you seen them do it? …finance one I mean… because if you haven’t, there’s more going on than you’ve been lead to believe.

Buy the Notes… - Posted by Jered (WA)

Posted by Jered (WA) on August 06, 2005 at 01:26:09:

You don’t have to actually buy and sell to get the note. Yes, this is the traditional LD, but you could also just as easily buy the note.

Talk to the PMs who are selling the homes on terms. What do they want? Do they want cash flow? Unlikely. Do they want cash now? Likely. If so, offer to buy their notes at a discount.

I have done this deal a few times now and it keeps getting better and better. 60% yield on the last deal and my holding + advertising costs were $0. Total time spent was 2 hours. Result is the same: people are obligated to send me a check every month. My money is working for me.

Think about it.



Posted by Bobbie on August 06, 2005 at 24:05:55:

Okay, if the PMs are getting in on the action in the parks in your area, how about trying this. Go to the mailboxes or get a map of the park from the PM (just as a lookie-lou, not a buyer). BE NON-THREATENING.
Take down the name and address of the park.

Have some simple 4 x 4 postcards made saying something like: WE BUY USED MOBILE HOMES. CASH - AS IS - QUICK CLOSE (or close at your choice). Be sure to put CASH, AS-IS, QUICK CLOSE IN BOLD. Use a bright color paper – Orange, Yellow, Green (I like the flourescent). Put your name and phone #
Keep the message simple and to the point.
MAIL THESE TO THE RESIDENTS OF THE PARK. You don’t need their names. Warning: do not try to slide these into their mailboxes – that’s against the law.

This is an inexpensive marketing tool that will allow tenants to call you directly without having to go through the park manager.

I think it would be worth the little time and $$ to give it a try. What do you have to lose??

You can also put an ad in the newspaper saying the same thing. Put your ad in the same section where they sale the MFHs.

Good luck,
Bobbie :slight_smile:


Posted by JT on August 05, 2005 at 13:32:54:

Keep your head up! If the parks in your area that are owner financing are all owner operated you might have a problem but I doubt that is the case. Talk to the PMs and see what motivates them(not the park owners). Sometimes you and the PM can come to an agreement that allows you to get the first phone call when a home comes available. As far as GT goes, I would negotiate the lot rent with the PM and see if you can get that at least reduced if not wiped clean.


Posted by DSmith on August 05, 2005 at 12:13:59:

How many park managers have you talked to? How many parks have you visited?

You’ve got to talk to the managers. Even if they are buy SOME of the homes in their park, there are some that they don’t want, like abandoned homes that need work. I was just given 3 of these for free last week. they need about $2000 in work, total. Parks tend to buy and sell the more expensive homes, not the Lonnie deal type.

there are plenty of deals out there, you just haven’t talked to the right people.


Posted by AZ on August 05, 2005 at 11:13:22:

THere are plenty of deals out there, keep looking because they wont find you! I personanly know a guy that buys and sells dozens of MH’s in Pheonix every month and most of them are FREE and they are all post 76 with the majority of them in the 80’s and 90’s and I dont think he EVER pays more then $5,000.

I know it is hard. I know it is frustrating, BUT KEEP GOING!!! Believe me it is worth it. It took me months before my first deal