General Mobile Home Buy & Sell Strategy - Posted by John Katitus

Posted by Walt on February 22, 1999 at 14:47:28:

would you share how you advertise and create a buyers list? It might help some of us turn their homes faster. Thanks.


General Mobile Home Buy & Sell Strategy - Posted by John Katitus

Posted by John Katitus on February 19, 1999 at 24:43:09:

I have only been working with MHs for about two months
now, and have a question about how to proceed.

I have bought four homes, all in different parks. One sold in about three weeks and came off well. Got a decent down payment and good monthly payments for a long time. Of the other three, there is a deal working on one of them. The other two are in waiting.

I have gotten a lot of calls from some pretty motivated sellers lately, as it is February in Ohio and not much buying going on. I know that I can easily buy some nice homes at good prices. The investment capital is available.

The few buyers that have been calling either don’t have any down payment money or can barely afford even $200 per month over the lot rent. I advertise both buying and selling every day in the two area newspapers, so I don’t think the lack of buyers is due to the word not getting out, but just a cold, dreary time of year to buy.

I’m not sure whether to buy a few homes and hold them until the market wakes up or to wait until these others are sold. Obviously it’s best to sell as quickly as possible and minimize holding costs, but selling would also be easier with a few homes to choose from. And I am passing good buys daily.

What do you do? Do you keep a supply of homes to sell from, or turn them over one or two at a time? What is a normal holding time between buying and selling? Should I accept marginal buyers to keep things moving?

As always, thank you for sharing your thoughts and experiences.

Re: General Mobile Home Buy & Sell Strategy - Posted by Kevin OK

Posted by Kevin OK on February 20, 1999 at 10:22:34:

I sold many mobiles in Ohio before moving to Oklahoma. It seemed to me that the buyers really came out after mid-April. Something about blue skies and temperatures in the 60’s that make folks more willing to take action…to get out and move. During the winter months, it always seemed to me that only those buyers that HAD to move were looking. But in that regard, those who were calling were probably the most motivated folks you’ll find. If they come looking when it’s 30 degrees, its a good sign. Now, whether they can afford to is a separate matter. Things should pick up in the next 2 months…grab the good deals now, and be ready for those buyers to ride in on the wave of sunshine…Spring’s not far away. Good luck! Kevin OK

Re: General Mobile Home Buy & Sell Strategy - Posted by David S

Posted by David S on February 20, 1999 at 09:37:40:

I would like to see your ads; exactly as you place them in the various papers.

Seems you need another approach for obtaining a buyers list.

David S